Despite What You May Intend
Leading up to the Civil War, American industrialists occupying the northern states generally regarded slavery as repugnant. Despite the progressive moral sentiment, intending to become more civilized also had an economic (utilitarian) tendency.
Freeing the slaves means there are more wage earners with the utility (the divisible, public benefit, or the “general welfare”) of existing on demand. (An on-demand existence, remember, has the natural, built-in utility of measuring the “general will.” It avoids guessing, or not caring, what “The People” want and prevents the power elite from pathologically destroying itself, and everybody else, in a psychotic fit of delusional self-determination.) The destiny of the wage earner is self-determined but, nevertheless, determined by the laws of supply and demand.
The ratio is very simple. The more supply of labor there is the more debt there is to equity. Having to leverage your assets to demand the supply does not increase your income. Instead it leads to a liquidity crisis in which your job, your source of income to pay the debt, is at risk. It may not fully affect you this time around but the general effect is a tendency, inherent to capitalism, that yields to no-wage inflation. While the yield is commonly described as “profits up, wages down,” full attainment of the risk-value is detrimental to intending it. Like slavery, the value it produces is so retributive (belonging to the people that slaved over it as much, if not more, than anybody else) the tendency (like John Locke said) is to be more civilized and let people enjoy the full measure of their labor, existing self-determined on demand.
(Utilizing retributive-risk analysis the probability of a self-correcting trend is readily apparent. This technical correction can be referred to as a negative ontology that naturally resists–and tends to destroy–an accumulating detriment.)
Capitalism turns self-determination into a negative existence. According to Objectivists, we all yield to a natural identity. The top one percent is never the same people all the time because nature corrects for it with cyclical trends. Despite whatever delusions we may have about what we intend to be, nature always yields to objective reality. Naturally, we stop at the limit.
Although logically it is not possible for everybody to self-determine like a king it is not irrational for all of us to try in zero sum, intending to the positive value of a negative existence.
This oscillating ratiocination is the negative ontology–the being and nothingness–that existentialists postulate. While, for example, an on-demand existence means we all have the attributes of a king, objectively that means we can’t all be king despite trying. Together, however, we are sovereign just like a king and that value (objective reality) is exactly what capitalism intends to resist by means of consolidation.
Formation of the capital has diminished the value of slavery. It has been consolidated into the capital, but existing on demand without debt like conservatives say we should means that a person can in fact exist below a subsistence wage to form it.
A slave does not earn a wage but subsistence is a requirement.