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Links for 2016-11-30 [del.icio.us]

Thursday, December 1, 2016 1:46
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  • econlog.econlib.org
    Now let me anticipate the “yes buts.” Some Americans were made worse off. Obviously slave-owners, and less obviously those who were closely connected to the slave economy (bankers who financed them, cotton mills, etc.) But as Fogel showed (in a study of railroads), when thinking about any economy we tend to mentally overrate the importance of any one sector, especially big sectors. So despite the very real losses to a sizable group of Americans, the economy overall did much better as a result of the abolition of slavery.
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