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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.
 
SeeSmithsonian 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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