In the beginning of the transatlantic slave trade, when European ships first became a constant presence on African shores, the difference between the two systems, European and African, was more a matter of culture than economics. Europeans could buy and sell labor—that was the purpose, to cite one example, of indentured-service contracts. And Africans could effectively own land by controlling the labor from the people who used that land. In both cases the owners ended up profiting from the fruits of the land and labor, even if the route to those profits was different. In economic terms,
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