Once slavery was abolished, many planters had no way to run their plantations, and had to find new alternatives. In the short term, many former slaveowners had trouble keeping their livings, but in the long run the southern economy made tremendous progression as jobs were made available and industrialization boomed. Additionally, commercial trading became an option and the market economy emerged. However, it would be a while before the plantation economy completely disappeared, with the popularization of tenant farming and sharecropping as a replacement to slavery.
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