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American slavery and labour market power

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  • Suresh Naidu

Abstract

In this article I discuss the micro-economics of American slavery in light of recent research on monopsonistic labour markets. I argue that the defining characteristic of coerced labour, the threat of violence to prevent voluntary quits from a job, can be helpfully understood by contrasting it with free labour markets that are riven with imperfect competition and agency problems. American slavery looks closer to the textbook competitive model of labour markets than does free labour.

Suggested Citation

  • Suresh Naidu, 2020. "American slavery and labour market power," Economic History of Developing Regions, Taylor & Francis Journals, vol. 35(1), pages 3-22, January.
    • Handle: RePEc:taf:rehdxx:v:35:y:2020:i:1:p:3-22
    DOI: 10.1080/20780389.2020.1734312
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    Cited by:

    1. Mark Stelzner & Sven Beckert, 2024. "The contribution of enslaved workers to output and growth in the antebellum United States," Economic History Review, Economic History Society, vol. 77(1), pages 137-159, February.
    2. Palma, Nuno & Papadia, Andrea & Pereira, Thales & Weller, Leonardo, 2020. "Slavery and development in nineteenth century Brazil," CAGE Online Working Paper Series 523, Competitive Advantage in the Global Economy (CAGE).
    3. Ekama, Kate & Fourie, Johan & Heese, Hans & Martin, Lisa-Cheree, 2021. "When Cape slavery ended: Introducing a new slave emancipation dataset," Explorations in Economic History, Elsevier, vol. 81(C).

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