Not quite. It's more like:
"since 1865, the huge decrease in black slaves—something notoriously tough for capitalists—has rendered the notion of a "productive economy" into an oxymoron".
Followed by the non-denial:
"It would be absurd to suggest black people will be re-enslaved".
"Abolishment of slavery led to economic ruin in the Confederate states." -Author Bob
And a not-so-well-meaning reader TLDR'ing it as:
"Author Bob claims that abolishing slavery was a bad thing." / "Author Bob is a supporter of slavery."