Biblical Underpinning for Slavery For many centuries slavery was perfectly acceptable to Christians.
Development economics is easy to characterize as one of the three major subfields of economics, along with microeconomics and macroeconomics. More specifically, development economics resembles economic history in that it seeks to explain the changes that occur in economic systems over time.
Economic development first became a major concern after World War II. As the era of European colonialism ended, many former colonies and other countries with low living standards came to be termed underdeveloped countries, to contrast their economies with those of the developed countries, which were understood to be Canada, the United States, those of western Europe, most eastern European countries, the then Soviet UnionJapan, South AfricaAustralia, and New Zealand.
As living standards in most poor countries began to rise in subsequent decades, they were renamed the developing countries.
There is no universally accepted definition of what a developing country is; neither is there one of what constitutes the process of economic development. Developing countries are usually categorized by a per capita income criterionand economic development is usually thought to occur as per capita incomes rise.
Although there are a number of problems of measurement of both the level of per capita income and its rate of growth, these two indicators are the best available to provide estimates of the level of economic well-being within a country and of its economic growth.
It is well to consider some of the statistical and conceptual difficulties of using the conventional criterion of underdevelopment before analyzing the causes of underdevelopment. The statistical difficulties are well known. To begin with, there are the awkward borderline cases.
Even if analysis is confined to the underdeveloped and developing countries in AsiaAfrica, and Latin Americathere are rich oil countries that have per capita incomes well above the rest but that are otherwise underdeveloped in their general economic characteristics.
Second, there are a number of technical difficulties that make the per capita incomes of many underdeveloped countries expressed in terms of an international currency, such as the U.
These difficulties include the defectiveness of the basic national income and population statistics, the inappropriateness of the official exchange rates at which the national incomes in terms of the respective domestic currencies are converted into the common denominator of the U.
Finally, there are conceptual problems in interpreting the meaning of the international differences in the per capita income levels. Although the difficulties with income measures are well established, measures of per capita income correlate reasonably well with other measures of economic well-being, such as life expectancyinfant mortality rates, and literacy rates.
Other indicators, such as nutritional status and the per capita availability of hospital beds, physicians, and teachers, are also closely related to per capita income levels.
While a difference of, say, 10 percent in per capita incomes between two countries would not be regarded as necessarily indicative of a difference in living standards between them, actual observed differences are of a much larger magnitude.
The interpretation of a low per capita income level as an index of poverty in a material sense may be accepted with two qualifications. First, the level of material living depends not on per capita income as such but on per capita consumption.
The two may differ considerably when a large proportion of the national income is diverted from consumption to other purposes; for example, through a policy of forced saving.
Second, the poverty of a country is more faithfully reflected by the representative standard of living of the great mass of its people. This may be well below the simple arithmetic average of per capita income or consumption when national income is very unequally distributed and there is a wide gap in the standard of living between the rich and the poor.
The usual definition of a developing country is that adopted by the World Bank: To be sure, countries with the same per capita income may not otherwise resemble one another: Centrally planned economies are also generally regarded as a separate class, although China and North Korea are universally considered developing countries.
A major difficulty is that prices serve less as indicators of relative scarcity in centrally planned economies and hence are less reliable as indicators of the per capita availability of goods and services than in market-oriented economies.
Estimates of percentage increases in real per capita income are subject to a somewhat smaller margin of error than are estimates of income levels. Page 1 of 7.Oct 15, · Sulla, The blacks didn’t simply disappear when slavery was abolished in the United States in In the aftermath of the war, the decision was made by the Radical Republicans to transform them into citizens and free laborers under the colorblind Reconstruction Constitution.
Slavery in the United States was the legal institution of human chattel enslavement, primarily of Africans and African Americans, that existed in the United States of America in the 18th and 19th centuries. Slavery had been practiced in British America from early colonial days, and was legal in all Thirteen Colonies at the time of the Declaration of Independence in Slavery in what became the United States probably began with the arrival of "20 and odd" enslaved Africans to the British colony of Jamestown, Virginia, in Defenders of slavery argued that the sudden end to the slave economy would have had a profound and killing economic impact in the South where reliance on slave labor was the foundation of their economy.
Latest Modern-day slavery in focus news, comment and analysis from the Guardian, the world's leading liberal voice. The history of slavery spans many cultures, nationalities, and religions from ancient times to the present day.
However the social, economic, and legal positions of slaves were vastly different in different systems of slavery in different times and places. Slavery appears in the Mesopotamian Code of Hammurabi (c. BC), which refers to it as an established institution.