Imperial Measurement: A Cost–Benefit Analysis of Western Colonialism

IEA Publications

"Imperial Measurement: A Cost-Benefit Analysis of Western Colonialism" by Kristian Niemietz offers a fresh perspective on the economic impact of Britain's colonial past. This publication challenges the prevailing narrative that Western wealth, particularly Britain's, was built primarily on slavery and colonial exploitation. Niemietz, the IEA Editorial Director, presents a nuanced economic analysis that suggests the financial benefits of imperialism to Britain as a whole were likely modest at best, and possibly even resulted in a net loss.

Delving into historical trade patterns, military expenditures, and comparative economic development, Niemietz builds a compelling case that colonialism's role in Western prosperity has been overstated. He examines the true costs of maintaining an empire, the limited scope of colonial trade relative to domestic economic activity, and the similar industrialisation rates of both major colonial powers and countries with minimal colonial involvement. While acknowledging the undeniable moral wrongs of colonialism and its lasting negative impact on colonised regions, this audiobook provides listeners with a more complex understanding of the economic realities behind the British Empire and challenges readers and listeners to reconsider long-held assumptions about the foundations of Western wealth.