Looking at the first hadith - Prophetic narration, it becomes clear that slaves aren't infact slaves, they're exactly like your brothers. Giving them the same food you eat and the same clothes that you wear, while giving them help in the work that they do for you - this is better than being a servant even in todays times.
Regarding racism, as snakelegs quoted, the final Messenger of God, Muhammad (peace be upon him) said [translation of the meaning]:
"All mankind is from Adam and Eve, an Arab has no superiority over a non-Arab nor a non-Arab has any superiority over an Arab; also a white has no superiority over a black nor a black has any superiority over a white - except by piety and good action. Learn that every Muslim is a brother to every Muslim and that the Muslims constitute one brotherhood."
[Sahih Muslim]
Peace.
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