Gavin Wright 
Slavery and American Economic Development [PDF ebook] 

Through an analysis of slavery as an economic institution, Gavin Wright presents an innovative look at the economic divergence between North and South in the antebellum era. He draws a distinction between slavery as a form of work organization-the aspect that has dominated historical debates-and slavery as a set of property rights. Slave-based commerce remained central to the eighteenth-century rise of the Atlantic economy, not because slave plantations were superior as a method of organizing production, but because slaves could be put to work on sugar plantations that could not have attracted free labor on economically viable terms.