Slavery's Dual Impact on Early American Economy

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Consequently, the slave owners paid insurance premiums to the insurance firms. Like in the case of savings, the insurance firms used the premiums paid to reinvest in other activities whose outcome was economic growth. Thus, slavery generated more economic activities leading to overall economic growth. These included loans, credit, mortgages, insurance, transport, and agricultural lines of business (Post 617). These can be counted as factors which were positively impacted by slavery in America. “There is no question that profits from slavery and the slave trade flowed into banking, insurance, and ship-building throughout the colonies ” (Post 618). Although there are many positives to slavery, there were also negatives impacts on the American

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