IEA Editorial Director Kristian Niemietz has written for The Times discuss his new research into the costs and benefits of European colonialism.

Kristian wrote:

“By one estimate, Britain’s taxes could have been one quarter lower without the costs of maintaining a global empire, which could have significantly boosted domestic investment and subsequent prosperity. Accordingly, empire and slavery, which had little benefits and high costs, may have been net loss-making.

“Ultimately, what made Britain rich was not slavery or empire but the development of liberal institutions such as the rule of law, property rights and entrepreneurship.”

Read the full piece here.

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