In both case you spend all your time working and someone else benefit from it while you're left eating the leftover.
In both case you spend all your time working and someone else benefit from it while you're left eating the leftover.
most people have it internalized
this was found to be much more efficient that actual whipping
if you want to live - you will have to work to have access to healthcare
The new whip is starvation, homelessness, no health care, being out on the street amongst dangerous people, etc.
Carrot or stick.
People like to work for carrots, people don't like to be worked under threat of a stick. A horse that doesn't work dies either way, but one is much happier than the other.
Slavery puts the decisions to the slave owners, economic slavery retains the decision with the worker. If workers are in a terrible situation then at least they can reorganise if they see a better. With slaves they probably could think of better ways to organise, but the owners blocked them from acting.
In practice it means workers have and can act on strong incentives to upskill and find more effective working habits.