British Success not Rooted in Colonialism

IEA research featured in The Times

New research by IEA Editorial Director Kristian Niemietz, which argues that colonialism and slavery delivered few gains to the UK’s economy, has been featured in The Times.

The article said:

“The IEA paper backed by [Kemi] Badenoch, released on Wednesday, argues that colonial profits were responsible for 7-15 per cent of British capitalism formation and that sugar produced by slaves boosted the economy only by 2.5 per cent.

“Kristian Niemietz, an economist at the think tank, cites secondary sources to argue that ‘colonialism and the slave trade made, at best, minor contributions to the West’s economic development’.

“While agreeing that some people involved in colonialism became ‘very rich’, he argues that such profits were ‘not large enough to seriously affect macroeconomic aggregates like Britain’s investment rate and capital formation’.”

Read the full piece here.

Kristian’s research was also featured in The Daily Telegraph, Guido Fawkes, The Conservative Woman, London Economic, The Yorkshire Times, The Lancashire Times, and the Denbighshire Free Press.

Read a full copy of Imperial Measurement: A Cost–Benefit Analysis of Western Colonialism.