Our economic impact estimate considers ingenuity, common law, commerce, trade, and the development of joint-stock companies.
Ingenuity and Innovation: British advancements in technology, industrialization, and innovation drove economic growth. Inventions like the steam engine, mechanized manufacturing, and improvements in infrastructure, significantly boosted productivity and economic output.
Legal and Institutional Framework: The development of common law and legal institutions provided a stable environment for commerce and trade, since property rights, contract enforcement, and the rule of law facilitated exploitative business transactions.
Trade and Commerce: British trade networks, particularly with India, North America and Asia, facilitated the exchange of goods and services, driving economic growth.
Financial Innovations: The emergence of joint-stock companies and financial institutions, such as the Bank of England, provided access to capital for investment and entrepreneurship, enabling the financing of ventures that led to the theft of physical and human resources.
Human Capital Development: Investments in education, training, and skill development contributed to the development of a workforce capable of carrying out this theft efficiently over the long term.
Infrastructure Development: Infrastructure investments, including transportation networks, communication systems, and urban development, facilitated the movement of goods, services, and people, including forced labor.
Based on these factors, we estimate below the economic benefit to Britain of innovation, legal and institutional frameworks, trade and commerce, financial innovations, human capital development, and infrastructure development. We include the economic value of exploitation, displacement, and socio-economic inequalities as follows:
1. India:
- Exploitation: British exploitation cost India $45 trillion in GDP due to unfair resource extraction, biased trade practices, and forced labor:
- Displacement: The economic value of forced evictions, land grabs, and population displacement, cost $20 trillion dollars.
- Socio-economic Inequalities: Persistent socio-economic disparities resulting from colonial practices are valued at $25 trillion.
2. Haiti:
- Exploitation: Haiti's losses due to exploitation cost $250 billion dollars:
- Displacement: The economic impact of displacement, including forced migrations of African forced labor and disruptions to indigenous communities, might amount to $100 billion dollars.
- Socio-economic Inequalities: Lingering disparities are valued at $150 billion.
3. United States:
- Exploitation: The economic impact of exploitation, including the use of forced labor and exploitation of Native American lands and resources, cost $75 trillion dollars:
- Displacement: The value of displacement, including forced removal of Native American tribes and the forced migration of Africans, cost $25 trillion dollars.
- Socio-economic Inequalities: Persistent inequalities resulting from forced labor, segregation, and discriminatory policies are valued at $50 trillion dollars.
4. Jamaica:
- Exploitation: Jamaica's losses due to exploitation during British rule cost $300 billion dollars:
- Displacement: The economic impact of displacement, including forced migration of Africans and disruptions to indigenous communities, amounts to $200 billion dollars.
- Socio-economic Inequalities: Lingering disparities are valued at $100 billion.
5. African Countries (general estimate):
- Exploitation: The collective losses of African countries are estimated to be $100 trillion dollars:
- Displacement: The economic impact of forced migrations, forced labor, and disruptions to local economies and societies amounts to $25 trillion dollars.
- Socio-economic Inequalities: Persistent disparities in wealth, education, healthcare, and infrastructure are valued at $75 trillion dollars.
These estimates are based on various historical and economic studies. The true economic impact is multifaceted and extends beyond monetary value.
https://www.linkedin.com/pulse/estimate-dollar-value-british-colonialism-forced-msa6c