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==Phillips concludes slavery was inefficient==

==Phillips concludes slavery was inefficient==

Phillips argued that large-scale plantation slavery was inefficient and not progressive. It had reached its geographical limits by 1860 or so, and therefore eventually had to fade away (as happened in Brazil). In 1910, he argued in "The Decadence of the Plantation System" that slavery was an unprofitable relic that persisted because it produced social status, honor, and political power, that is, [[Slave Power]]).  

Phillips argued that large-scale plantation slavery was inefficient and not progressive. It had reached its geographical limits by 1860 or so, and therefore eventually had to fade away (as happened in Brazil). In 1910, he argued in "The Decadence of the Plantation System" that slavery was an unprofitable relic that persisted because it produced social status, honor, and political power (that is, [[Slave Power]]).  

Phillips' economic conclusions about the inefficiency of slavery were challenged by [[Robert Fogel]] in the 1960s, who argued that slavery was both efficient and profitable as long as the price of cotton was high enough. In turn Fogel came under sharp attack.

Phillips' economic conclusions about the inefficiency of slavery were challenged by [[Robert Fogel]] in the 1960s, who argued that slavery was both efficient and profitable as long as the price of cotton was high enough. In turn Fogel came under sharp attack.