What about the benefits of free trade (efficiency, economies of scale
etc...). If the nations outside the empire have protectionist policies and
there are gains from international free trade, could not the gains of free
trade justify the expense of the empire? What is the value of an economic
union (even if this is accomplished by force)? Does the previously
mentioned cost benefit analysis include this?
Andrew Nigrinis
----- Original Message -----
From: "Chirag Kasbekar" <[EMAIL PROTECTED]>
To: <[EMAIL PROTECTED]>
Sent: Tuesday, September 19, 2000 7:16 PM
Subject: Re: some history
> > > I remember hearing a talk a very long time ago by someone
> > > who had tried to estimate the costs and benefits to
> >Britain
> > > of the empire, and concluded that on net it cost more than
> > > it was worth.
> > > David Friedman
>
> I had also sent my second question to the "Ask the Professor" service at
> EH.net. THe professor on duty turned out to be Robert Whaples of Wake
Forest
> University, who actually teaches the Industrial Revolution. He sent me the
> following:
>
> _______________________________________________________
>
> Probably the best work on this subject is
> Mammon and the Pursuit of Empire: The Political Economy of British
> Imperialism, 1860-1912 by Lance E. Davis, Robert A. Huttenback, Susan
> Gray Davis.
> Their evidence shows that Britain generally transfered resource _to_ its
> self-governing colonies. Very few economic historians would accept the
> notion that British capitalism depended much on its imperial activities,
> which were probably a net drain on the economy.
> This book is packed full of information and discusses India at length.
>
> R. Whaples
> Wake Forest University
> ________________________________________________________
>
> He also clarified later that "self-governing" colonies was not an oxymoron
> and was actually part of the classification used in the book. Places like
> India, which had partially a local government.
>
> -- Chirag
>
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