"The Problem of Slavery in the Age of Emancipation"

[Gene C]

It is a mistaken belief to think slavery was free labor.
Looking at this only from a business perspective, Slaves had to be fed and housed, they became sick or injured and had to be cared for. Like other assets, they depreciated, they got older and couldn't work as hard as a younger person. Since they were used mainly in agricultural endeavors, any one involved in agriculture knows that having a good crop each year is not a certainty. When you have a good crop, everyone else does to and there could be an oversupply of your crop which drives pricing down. Growing cotton exhausts the soil. Slaves were an added factor to consider in operating a successful farm. Farming has been and continues to be, risky business.