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To southern colonists, slavery was first an economic institution solely for the purpose of solving an economic problem, that problem - work cost too much money so the colonists implemented forced labor for economic gain. So slavery provided the basis for a special Southern economic and social life which had continued on until the Civil war.
The special economic life which the people of the South lived upon was one of greed for expansion and gain. Capitalism at its best, and the Southern colonies were very good at it. Lewis C. Gray defined the southern plantation as a "capitalistic type of agricultural organization in which a considerable number of unfree laborers were employed under a unified direction and control in the production of a staple crop...
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