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Market Structure and the Profits of the British African Trade in the Late Eighteenth Century

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  • Inikori, J. E.

Abstract

The pendulum of scholarship has swung too far towards the position that the profits from slaving were small. Thomas and Bean in concept and Anstey and Richardson in practice have reckoned them too small. The detailed accounts of several dozen ventures in the late eighteenth century show that the trade was difficult to enter, dominated by a few large merchants, and subject to long runs of high “short-run” profits, as in 1779–1788: The best firms earned upwards of 50 percent on their investments, well above the normal profits of an easy trade.

Suggested Citation

  • Inikori, J. E., 1981. "Market Structure and the Profits of the British African Trade in the Late Eighteenth Century," The Journal of Economic History, Cambridge University Press, vol. 41(4), pages 745-776, December.
    • Handle: RePEc:cup:jechis:v:41:y:1981:i:04:p:745-776_04
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    Cited by:

    1. repec:spo:wpecon:info:hdl:2441/687 is not listed on IDEAS
    2. Daron Acemoglu & Simon Johnson & James Robinson, 2005. "The Rise of Europe: Atlantic Trade, Institutional Change, and Economic Growth," American Economic Review, American Economic Association, vol. 95(3), pages 546-579, June.
    3. repec:hal:wpspec:info:hdl:2441/684 is not listed on IDEAS
    4. Jose Miguel Sanjuan‐Marroquin & Martin Rodrigo‐Alharilla, 2024. "‘No commercial activity leaves greater benefit’: The profitability of the Cuban‐based slave trade during the first half of the nineteenth century," Economic History Review, Economic History Society, vol. 77(1), pages 268-287, February.
    5. Daudin, Guillaume, 2004. "Profitability of Slave and Long-Distance Trading in Context: The Case of Eighteenth-Century France," The Journal of Economic History, Cambridge University Press, vol. 64(1), pages 144-171, March.
    6. repec:hal:spmain:info:hdl:2441/687 is not listed on IDEAS
    7. Gregory Price & Warren Whatley, 2021. "Did profitable slave trading enable the expansion of empire?: The Asiento de Negros, the South Sea Company and the financial revolution in Great Britain," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), vol. 15(3), pages 675-718, September.
    8. repec:hal:spmain:info:hdl:2441/684 is not listed on IDEAS
    9. Guillaume Daudin, 2003. "Do Frontiers give of do frontiers take ? The case of intercontinental trade in France at the end of the Ancien Régime," Documents de Travail de l'OFCE 2003-03, Observatoire Francais des Conjonctures Economiques (OFCE).
    10. repec:spo:wpmain:info:hdl:2441/687 is not listed on IDEAS
    11. repec:spo:wpmain:info:hdl:2441/684 is not listed on IDEAS
    12. Dalton, John T. & Leung, Tin Cheuk, 2015. "Dispersion and distortions in the trans-Atlantic slave trade," Journal of International Economics, Elsevier, vol. 96(2), pages 412-425.
    13. repec:hal:wpspec:info:hdl:2441/687 is not listed on IDEAS
    14. repec:spo:wpecon:info:hdl:2441/684 is not listed on IDEAS
    15. Guillaume Daudin, 2006. "Profits du commerce intercontinental et croissance dans la France du xviiie siècle," Revue économique, Presses de Sciences-Po, vol. 57(3), pages 605-613.
    16. Guillaume Daudin, 2002. "The quality of slave trade investment in eighteenth century France," Documents de Travail de l'OFCE 2002-06, Observatoire Francais des Conjonctures Economiques (OFCE).

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