Semi-Daily Journal Archive

The Blogspot archive of the weblog of J. Bradford DeLong, Professor of Economics and Chair of the PEIS major at U.C. Berkeley, a Research Associate of the National Bureau of Economic Research, and former Deputy Assistant Secretary of the U.S. Treasury.

Wednesday, October 25, 2006

Economics 210a: Fall 2006: Memo Question for November 1

ECONOMICS 210A: MEMO QUESTION FOR November 1: Agriculture and Forced Labor in Early Modern Growth

Adam Smith confidently predicted that slavery was on its way out for economic reasons. In commercial society, manumission would be the rule because the carrot of working for yourself is much more efficient than the stick of being whipped by others. Was Adam Smith right? If you conclude he was wrong, why was he wrong?

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