Join Matthew Lesh, Public Policy & Communications Director at the IEA, in a thought-provoking discussion with Dr. Kristian Niemietz, Editorial Director at IEA, as they delve into the controversial question: Did empire make Britain rich?
In this week's episode of the IEA Podcast, Dr. Niemietz presents insights from his latest book, "Imperial Measurement: A Cost-Benefit Analysis of Western Colonialism," offering a critical examination of the economic impact of colonialism and slavery on Britain's prosperity.
From the historical critiques of empire by Adam Smith to modern-day debates fuelled by movements like Black Lives Matter, the conversation explores the economic arguments surrounding colonialism. Dr. Niemietz discusses how the traditional narrative of empire's economic benefits has been challenged, examining the costs of empire maintenance, the profitability of colonies, and the long-term effects on colonised nations. Through meticulous analysis and historical context, the podcast sheds light on the complexities of Britain's colonial legacy and its implications for understanding modern economics.
Timestamps:
00:00:00: Introduction
00:01:32: Exploring the Economic Debate on Colonialism
00:02:16: Unpacking the Economic Impact of Empire
00:03:40: Historical Context and Modern Perspectives
00:06:11: Critiquing Traditional Views on Empire
00:07:28: Revisiting Adam Smith's Economic Arguments
00:08:41: Analysing the Costs and Benefits of Empire
00:09:03: Examining the "Williams Thesis" and Its Critiques
00:11:07: Assessing the Contribution of Colonialism to Britain's Wealth
00:13:08: Debunking the Myth of Colonial Prosperity
00:15:18: Understanding the Role of Extractive Institutions
00:17:34: Lessons from Other Colonial Empires
00:20:36: Impact of Colonialism on Colonised Nations
00:22:27: Addressing the Legacy of Colonial Institutions
00:24:45: Exploring Alternatives to Colonial Explanations for Britain's Wealth
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