Historians have so far made few attempts to assess directly the costs and benefits of Britain's investment in empire. This book presents answers to some of the key questions about the economics of imperialism: how large was the flow of finance to the empire? How great were the profits on empire investment? What were the social costs of maintaining the empire? Who received the profits, and who bore the costs? The authors show that colonial finance did not dominate British capital markets; returns from empire investment were not high in comparison to earnings in the domestic and foreign sectors; there is no evidence of continued exploitative profits; and empire profits were earned at a substantial cost to the taxpayer. They depict British imperialism as a mechanism to effect an income transfer from the tax-paying middle class to the elites in which the ownership of imperial enterprise was heavily concentrated, with some slight net transfer to the colonies in the process.
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No evidence of any continued exploitative profits is proven during a prime period of British imperialism despite the fact that some British businessmen made fortunes and others earned more than they would have otherwise.
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First Sentence:
Few questions have engendered as much reappraisal, reinterpretation, and recasting as "Western Imperialism" in the late nineteenth century. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
colonies with responsible government, responsibly governed colonies, foreign underdeveloped countries, dependent empire, foreign developed countries, dependent colonies, finance imperialism, underdeveloped sector, domestic excises, cotton duties, defense subsidy, typical developed country, imperial subsidy, colonial loans, foreign sector, overseas finance, major public schools, overseas total, empire connection, imperial issues, domestic returns, extractive sector, financial trusts, imperial defense, class total Key Phrases - Capitalized Phrases (CAPs): (learn more)
United Kingdom, Colonial Office, New Zealand, Crown Agents, South Africa, Princely States, United States, Great Britain, British Empire, Hong Kong, House of Commons, India Office, Boer War, South America, Business Group Subtotal, Business Unspecified, Miscellaneous Professions, Business Services, Gold Coast, Miscellaneous Manufacturing, Chancellor of the Exchequer, Western Australia, Irish Nationalist, West Africa, East India Company New!
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Few questions have engendered as much reappraisal, reinterpretation, and recasting as "Western Imperialism" in the late nineteenth century. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
colonies with responsible government, responsibly governed colonies, foreign underdeveloped countries, dependent empire, foreign developed countries, dependent colonies, finance imperialism, underdeveloped sector, domestic excises, cotton duties, defense subsidy, typical developed country, imperial subsidy, colonial loans, foreign sector, overseas finance, major public schools, overseas total, empire connection, imperial issues, domestic returns, extractive sector, financial trusts, imperial defense, class total Key Phrases - Capitalized Phrases (CAPs): (learn more)
United Kingdom, Colonial Office, New Zealand, Crown Agents, South Africa, Princely States, United States, Great Britain, British Empire, Hong Kong, House of Commons, India Office, Boer War, South America, Business Group Subtotal, Business Unspecified, Miscellaneous Professions, Business Services, Gold Coast, Miscellaneous Manufacturing, Chancellor of the Exchequer, Western Australia, Irish Nationalist, West Africa, East India Company New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 17
books:
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- The Economic History of Britain Since 1700, Volume 3: 1939-1992 by Roderick Floud in Back Matter
- Explorations in the New Economic History: Essays in Honor of Douglass C. North by Roger Ransom in Back Matter
- Principles of Political Economy (Great Minds Series) by John Stuart Mill in Back Matter
- Economic History (Economics Reading Lists, Course Outlines, Exams, Puzzles & Problems Ser., Vol. 23) by Edward Tower in Back Matter
- The British Imperial Experience by Robert A. Huttenback in Back Matter
See all 17 books this book cites
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