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Monday, August 14, 2017

RE PIKETTY'S SO CALLED DISCOVERY 5% RETURN FOR THE TOP 1% JEFFERSON THE DARK SIDE

Jefferson himself alluded to one of the best reasons why black slave labor supplanted white bondage: it was profitable. Slave offspring were property, whereas bond servants, if they survived, were eventually free, and their offspring, if any, during bondage, were not property of the master anyway.
 
See: Smithsonian Magazine, Henry Wiencek, "Unmasking Thomas Jefferson", October 2012, p. 40.

http://www.smithsonianmag.com/history/the-dark-side-of-thomas-jefferson-35976004/
 
As Jefferson himself pointed out, around 1800 or so, long after the Declaration of Independence, in correspondence cited in the article above, he was making 5% a year on his slaves...
 
As I recall, this was on top of their labor value to him, but maybe I am wrong about that, maybe that included labor value. Read the article to find out.

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