Nietzsche is absent from today’s growing debate on slavery past and present. In this article I argue that his views on the subject add a pertinent, if challenging, dimension to this wide-ranging discussion. Nietzsche’s analysis is capable of contributing to our understanding of this multifaceted phenomenon in a number of respects. I look at Nietzsche’s use of the controversial notions of slavery, understood both historically and in the context of modern society, to explore such central concerns of political anthropology as the nature and role of leadership, and the questions of development and inequality. The key focus of Nietzsche’s examination concerns slavery as an enduring facet of human existence. He sees it becoming an important hallmark of the industrial culture as a barometer of modern society’s physiological well-being, as well as acting as the repository for its externalities. Nietzsche’s genealogical inquiry leads him to explore the psychological content of slavery and to conceptualise it in terms of human vulnerability, which increases susceptibility to exploitation. In these respects, Nietzsche’s views resonate with pertinence today and deserve closer critical attention and scrutiny – something Nietzsche would undoubtedly welcome.