Characteristics Economics Economists have modeled the circumstances under which slavery (and variants such as serfdom) appear and disappear. One theoretical model is that slavery becomes more desirable for landowners where land is abundant, but labour is scarce, such that rent is depressed and paid workers can demand high wages. If the opposite holds true, then it is more costly for landowners to guard the slaves than to employ paid workers who can demand only low wages because of the degree of competition. Thus, first slavery and then serfdom gradually decreased in Europe as the population grew. They were reintroduced in the Americas and in Russia as large areas of land with few inhabitants became available.
Characteristics Economics Economists have modeled the circumstances under which slavery (and variants such as serfdom) appear and disappear One theoretical model is that slavery becomes more desirable for landowners where land is abundant but labour is scarce such that rent is depressed and paid workers can demand high wages If the opposite holds true then it is more costly for landowners to guard the slaves than to employ paid workers who can demand only low wages because of the degree of competition Thus first slavery and then serfdom gradually decreased in Europe as the population grew They were reintroduced in the Americas and in Russia as large areas of land with few inhabitants became available