@MWal,
You are partially correct. In those biblical times people didn't have welfare nor social security benefits, so many men voluntarily became slaves in order to receive food and shelter. As you can see, in their case being free was no a virtue if they die in the middle of the street because no food to eat.
These slaves were treated with dignity, their integrity respected, and they had children and children for generations. We can't tell the same from OTHER CULTURES, where slaves were treated like animals, killed by any reason, can't even have a family and didn't last but their own generation.
The laws found in the Bible are the greater example of moral. And your opinion do not contradict the bible but it will make you contradict yourself if you think that slavery in Israel was similar to slavery happening in other cultures.