1853 dated Slavery Document

Document for prescription and medicine for negro. Measures 7 3/4" x 3 1/4". Some paper loss. Economists have modeled the circumstances under which slavery (and variants such as serfdom) appear and disappear. One observation 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. Read more at https://en.wikipedia.org/wiki/Slavery