I disagree with your interpretation.
Slavery was permitted only for specific reasons. One example would be the guy who tried to break in last summer was caught and went to prison. Instead of that, in a biblically just society, if he was unable to restore the damages plus 400% depending upon specifics, then he would be my slave or indentured bondman until paying off his debt. This is the right way because it's God's way. Here's a little bit about slavery and your chosen main text.
Does the Bible condone Slavery?