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Common historical fallacies: Difference between revisions
→logical fallacy 1: slave-produced exports were the driving force of the antebellum U.S. economy
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* while cotton represented a significant portion of antebellum exports, | * while cotton represented a significant portion of antebellum exports, | ||
* and while cotton was the dominant slave-produced southern agricultural product, | * and while cotton was the dominant slave-produced southern agricultural product, | ||
** not all cotton was produced by slaves/ slave owners; | ** not all cotton was produced by slaves/ slave owners; | ||
** exports were not a significant portion of the overall U.S. antebellum economy | ** exports were not a significant portion of the overall U.S. antebellum economy | ||
** production and exports of cotton increased significantly after the Civil War and emancipation | |||
click EXPAND to view chart of US exports as portion of the economy, 1790-1860: | click EXPAND to view chart of US exports as portion of the economy, 1790-1860: | ||
MERCHANDISE IMPORTS, EXPORTS, AND TRADE BALANCE (billions of dollars): | MERCHANDISE IMPORTS, EXPORTS, AND TRADE BALANCE (billions of dollars): | ||
{| class="wikitable" | |||
|Year | |||
|Value of Exports ($bn) | |||
|Est. GDP ($bn) | |||
|Exports as % of GDP | |||
|Cotton % of exports | |||
|Cotton % of GDP | |||
|- | |||
|1820 | |||
|0.07 | |||
|0.07 | |||
|10% | |||
|40.0 % (est) | |||
|4.0% | |||
|- | |||
|1830 | |||
|0.07 | |||
|1.01 | |||
|6.90% | |||
|(no data) | |||
| | |||
|- | |||
|1840 | |||
|0.12 | |||
|1.55 | |||
|7.70% | |||
|(no data) | |||
| | |||
|- | |||
|1850 | |||
|0.14 | |||
|2.56 | |||
|5.40% | |||
|53.4% | |||
|2.9% | |||
|- | |||
|1860 | |||
|0.33 | |||
|4.32 | |||
|7.60% | |||
|(no data) | |||
| | |||
|} | |||
Year Exports GDP Exports as % of GDP | Year Exports GDP Exports as % of GDP | ||