An economy has 10 slave owners and 500 slaves. Explain insution of sla

1.	An economy has 10 slave owners and 500 slaves. Explain insution of slavery is pareto optimal in this case
Answer» Answer: Soltow reports that the average Total ESTATE in the South in 1860 was $3978, as compared to just $2040 in the NORTH. Given that the average slave price in 1860 was $800, if Southern wealth was EXCLUSIVELY slaves, that amount WOULD equate to just over 5 slaves.

An economy has 10 slave owners and 500 slaves. Explain insution of slavery is pareto optimal in this case

Answer»

Answer:

Soltow reports that the average Total ESTATE in the South in 1860 was $3978, as compared to just $2040 in the NORTH. Given that the average slave price in 1860 was $800, if Southern wealth was EXCLUSIVELY slaves, that amount WOULD equate to just over 5 slaves.

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An economy has 10 slave owners and 500 slaves. Explain insution of slavery is pareto optimal in this case

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