Source: The Daily Economy
by Paul McDonnold
“In the Old South, what had mattered was blood and land. It was a quasi-feudal society where it was difficult to rise above the station you inherited, nearly impossible if you were black. And when the tension created by slavery in a nation founded on freedom became untenable, the Civil War broke out, and the South was crushed. The Union’s victory owed at least as much to economic superiority as military proficiency. Though it took roughly a century, transforming the Southern economy required replacing its agrarian, slave-based order with a more modern, freer, more diversified system. In Houston, the transformation was spurred by the oil industry. In Charlotte, it was banking. And in northwest Arkansas, it was retail, with Walmart founder Sam Walton becoming the richest person in the United States in 1982.” (10/15/26)
https://thedailyeconomy.org/article/free-enterprise-transformed-the-american-south/