What long-term effect did slavery have on the economies of the European countries and the United States?
A) Slavery formed the basis of the multiethnic modern world of the leading democracies.
B) Tensions existed in these countries between those who were for and against slavery.
C) Slavery enabled the accumulation of capital that later fuelled economic development.
D) Slavery slowed the growth of technology because manual labour was so inexpensive.

Question

Quizplus · Accepted Answer

Slavery enabled the accumulation of capital that later fuelled economic development. The wealth generated from the slave trade and the use of slave labor contributed significantly to the growth of the economies of European countries and the United States. This wealth, in turn, was invested in various industries, leading to economic development.

What Long-Term Effect Did Slavery Have on the Economies of the European