Where land was abundant, a worker could walk off and farm alone, so elites who wanted others' labor bound the laborer instead. Evsey Domar's arithmetic says a society can have any two of free land, free labor and a landowning elite. The episode follows encomienda, slavery, Wakefield's high land prices and the revoked forty acres to sharecropping and debt.
How much of American slavery Domar explains is contested, with northern colonies as a counterexample and profitability scholars offering a rival frame. Whether sharecropping was coercion or a bargain freedpeople preferred, and whether Wakefield's scheme worked as designed, are also argued.