Antebellum Southern Political Economists and the Problem of Slavery

This article seeks to contextualize the political economists of the antebellum South. The article analyzes them both as members of a transatlantic set of economic thinkers and as southern defenders of slavery. As such, they paired a commitment to the fundamental precepts of classical economics with a defense of chattel slavery. Some historians have claimed that the simultaneous commitment of the southern political economists to political economy and slavery compromised both their social science and their defense of slavery. In contrast, this article finds that the southern political economists exploited the gaps and tensions in classical political economy on the topic of unfree labor to build a coherent and popular economic defense of slavery. Key to the defense was a view of planters as profit‐seeking capitalists and a racism that necessitated the control of black laborers. In the process of developing the defense, some of the southern political economists championed the prospect of industrializing the economy of the South with surplus slave labor.