It’s worth than slavery, in some ways, because workers become fully disposable.

Under chattel slavery, slave owners spent money on slaves and slaves had a value on them. They insured them against “loss”. They wanted to get their money’s worth. Just like if a car behaved badly you wouldn’t sink it into the lake, if a slave behaved badly you wouldn’t get rid of them without some kind of compensation and it was often easier to beat them into submission.

Under capitalism, you rent your slaves and don’t care what happens to them at all