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Was the slave trade so profitable because of the demand for slaves or the trade triangle?

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Was the slave trade so profitable because of the demand for slaves or the trade triangle?

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It was profitable for everyone concerned, the Europeans had free labour working thier plantations which brought about huge profits and the slave suppliers (rival african tribes and others )sold people (without a cost of production ) to Europeans in exchange for things like Rum and weapons. Everyone except for the slaves, profited from the triangle.

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