The Journal of Economic History · 1996 · 35 citations · 50 references
LawCommercial LawJurisprudenceAntitrust LawSales LawSlavery StudiesAtlantic Slave TradeCommercial Law HistoryPlantation SlaverySlave LawSlave MarketsIllegal Slave TradingInformation GapsInstitutional Support MechanismsSlave BrokerageSlave Market InstitutionsSlave Sale LawSlave Trade Law
An analysis of all appellate cases involving slave-sales reveals that southern courts helped minimize the costs of trading in slaves. Slave-sales law also surpassed other contemporaneous commercial law in sophistication. Why? Greater information gaps between slave buyers and sellers called for more complex institutional support. The enormous property value embodied by slaves also led to more litigation, greater need for settled law, and a more even match of power between plaintiff and defendant. Additionally, legal rules surrounding slave sales substituted for the employment law governing free-labor markets.
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Ronald H. Coase · Economica · 1937 · 23.4K citations · Full text
Douglass C. North · The Journal of Economic Perspectives · 1991 · 5K citations
Social Sciences, Economics, History +11