HUNTING FOR RENTS - THE ECONOMICS OF SLAVING IN PRECOLONIAL AFRICA

In 1974 Thomas and Bean argued that the slave trade from Africa was si milar to an ocean fishery, with profits being dissipated by unrestrict ed entry into the trade. This article questions the appropriateness of common property resource models to slaving and suggests, instead, tha t slaving generated economic rents within Africa. Invoking recent theo ry on rent-seeking behaviour, it goes on to argue that slaving was sub ject to political influence and regulation, with most of the profits f rom it being appropriated by the socio-political elites of the African states involved.