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Mammon and the Pursuit of Empire

The Political Economy of British Imperialism, 1860–1912

Lance E Davis author Robert A Huttenback author

Format:Hardback

Publisher:Cambridge University Press

Published:30th Jan '87

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Mammon and the Pursuit of Empire cover

This book presents answers to some of the key questions about the economics of imperialism.

Historians have so far made few attempts to assess directly the costs and benefits of Britain's investment in empire. This book presents answers to some of the key questions about the economics of imperialism: how large was the flow of finance to the empire? How great were the profits on empire investment? What were the social costs of maintaining the empire? Who received the profits, and who bore the costs? The authors show that colonial finance did not dominate British capital markets; returns from empire investment were not high in comparison to earnings in the domestic and foreign sectors; there is no evidence of continued exploitative profits; and empire profits were earned at a substantial cost to the taxpayer. They depict British imperialism as a mechanism to effect an income transfer from the tax-paying middle class to the elites in which the ownership of imperial enterprise was heavily concentrated, with some slight net transfer to the colonies in the process.

ISBN: 9780521236119

Dimensions: 234mm x 152mm x 27mm

Weight: 670g

408 pages