The Marxist reading of the decline of slavery is that free labour was cheaper as they had no owners who had to take responsibility for their welfare, but were free to swim or sink according to their own means. In contrast, the south had a significant proportion of their capital tied up in slaves, which would disappear if emancipation occurred en masse. The Whig reading of history probably emphasises the philosophical aspects more. The Marxist reading of history concentrates on the adage: follow the money.
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