- Jan 3, 2019
That's somewhat catch 22, wouldn't say slavery stagnated a agricultural economy....but the deep South never diversified much from a agricultural economy
Edit-added- But obviously to refer to an economy, that provided the number one export for the entire nation as stagnent, would be unrealistic. Not to mention besides cotton, US production of rice, sugar, and tobacco were also heavily based on the same slave economy, and virtually every other segment of US agriculture used it to varying degrees also.
You are misrepresenting the #1 export thing like it was infinitely significant. The U.S. had a closed economy during that time, which cotton exports were worth about 5% of the GDP. It was a small micro chip on a vast macro pie, which maybe somewhat significant but was not remotely indispensable. Rice, sugar and tobacco were on the decline. Perhaps not stagnated yet, but stagnation was definitely looming.