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Culture War Roundup for the week of May 20, 2024

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More empirically: Jefferson famously tried to free his slaves on his death, but he couldn't afford it. The cost was too high. If slavery was really "on its way out" it seems odd that the price of slaves was still so high.

According to John Boles, a professor of history at Rice University:

When Jefferson’s father-in-law died, his wife inherited, which means Jefferson inherited, her father’s land and slaves, plus a lot of debt. He wasn’t able to get out from under that debt his entire life. A law was passed in Virginia in 1792 that said if a person was in debt, any slaves he might free could be seized by his debtors. So Jefferson was always under the cloud that he couldn’t free his slaves because they could be seized by his debtors.

Also, in 1806, a law was passed in Virginia that said if a person freed slaves, those slaves had to leave the state within one year or they’d be seized by the state [as slaves]. So Jefferson realized that even if he avoided that 1792 law about debt and freed his slaves, they had to be expelled. He didn’t have the means to buy animals or land or tools to set them up [in another state]. He felt hamstrung by that. He also had a lot of kin — children and grandchildren — whom he was supporting. At any one time, Jefferson was supporting 15–20 family members at Monticello.

Saying the costs are too high is technically correct but Jefferson's situation in particular has some details to consider that may make one consider what exactly that statement means. The laws around debt and Jefferson wanting to give his slaves a chance at life if he did free them by basically gifting them huge financial gifts made it economically unviable for him.

Is slavery profitable? Yes. Is it more profitable than willing workers engaging in a free market? That is the question. Opportunity cost is a thing.

Thanks for linking the anecdote, I hadn't heard that before.

Presumably that debt was being serviced by the income of the land and slaves, no? In modern terms, it's possible to own a business (with income) that also has a debt. If you inherit that business, you also inherit the debt. It doesn't mean the business was worth nothing, even if you don't have the cash to pay off the debt instantly.

I agree that Jefferson's situation was wierd and maybe a bad example for the economics of slavery, since it seems like he was more concerned with other things like art, politics, etc and didn't really care about money. On the other hand... maybe that's the point? The guy was so rich, and from such easy money, that he never had to care about money at all. He could afford to throw away money on things like turning Monticello into his own personal architectural vanity project, while also being president, and it just didn't matter. Slavery was profitable.