Access to the labor of enslaved people significantly transformed the American colonial economy primarily by allowing for the development of agricultural and other industries that relied on a large, cost-effective, and permanent labor force.
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Economic Shift: The reliance on enslaved labor led to the growth of plantation economies, especially in the Southern colonies. This enabled the production of cash crops like tobacco, rice, and cotton, which became staples of the colonial economy and were crucial for export.
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Wealth Accumulation: The increased productivity from enslaved labor contributed to significant wealth accumulation for plantation owners and others involved in the slave trade. This wealth helped to foster a consumer culture in colonial America as it allowed for investment in goods, services, and infrastructure.
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Displacement of Indentured Servants: The reliance on enslaved people did indeed take away some opportunities from indentured servants as plantations and businesses found it more economically viable to use enslaved labor, which was seen as a long-term investment compared to the temporary nature of indentured servitude.
In the context of the options provided, the most accurate assessment would be that access to enslaved labor "took away jobs from indentured servants," as this reflects how the economy shifted from temporary labor arrangements to a system that relied heavily on the perpetual servitude of enslaved individuals.
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