Slavery versus Labor
نویسندگان
چکیده
Abstract Slavery has been a long-lasting and often endemic problem across time space, commonly coexisted with free-labor market. To understand (and possibly eradicate) slavery, one needs to unpack its relationship free labor. Under what conditions would principal choose buy slave rather than hire worker? First, slaves cannot leave at will, which reduces turnover costs; second, can be subjected physical punishments, enforcement costs. In complex tasks, relation-specific investments are responsible for high costs, makes principals prefer over workers. At the other end of spectrum, in simple threat punishment is relatively cheap way produce incentives as compared rewards, because effort easy monitor, again cheaper alternative. The resulting equilibrium price market affects demand labor induces workers tasks intermediate complexity. available historical evidence consistent this pattern. Our analysis sheds light on cross-society differences use slaves, diachronic trends, effects current anti-slavery policies.
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ژورنال
عنوان ژورنال: Review of Law & Economics
سال: 2021
ISSN: ['2194-6000', '1555-5879']
DOI: https://doi.org/10.1515/rle-2021-0049