Old school — refreshingly
In a notable departure from its usual practice, the Nobel committee in Sweden has this year awarded the economics prize to someone who is actually interesting and worth reading.
But what first captivated me about Goldin’s research was something she wrote more than 40 years ago that today is widely overlooked. In total, the U.S. Census reported, 4 million people were enslaved inside the U.S. in 1860. The average market price of a slave peaked, at that same time, at $800, according to the government’s Historical Statistics of the United States. That creates an estimated peak market value of all slaves in the U.S. of $3.2 billion.
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