Did the British Empire and colonialism help drive the Industrial Revolution and economic growth in the West? This panel discussion explores that controversial question from multiple perspectives.

The guests include Dr. Kristian Niemietz (Editorial Director at the IEA), who argues that empire and slavery were marginal distractions that likely impoverished Britain compared to a counterfactual of free trade. Dr. Lawrence Goldman (Oxford historian) concurs, citing scholarship debunking the view that the industrial takeoff depended on colonial riches. Dr. Victoria Bateman (economic historian) highlights how the increasing freedoms of women in northwest Europe helped spur industrialisation. And Dr. Zareer Masani (historian and journalist) weighs both the economic costs and cultural impacts of the British Raj in India.

The panelists engage in a lively debate over the role of empire versus other factors like high wages, trade, capital formation, and ideological change in powering Britain's rise. They analyse the economic effects on both the colonising and colonised nations, drawing insights from demographic data, trade patterns, military spending, and more. It's a nuanced discussion challenging simplistic narratives about the origins of Western prosperity.

6:57 - Dr. Niemietz on slavery's marginal economic impact
15:12 - Dr. Goldman debunking the Williams thesis on slavery driving industrialisation
18:37 - Dr. Bateman on how women's freedoms boosted industrialisation
25:27 - Masani on cultural impacts of empire
33:12 - Masani discussing compensating Indian WWII troops
38:30 - Impacts of women's late marriage patterns on wages
50:55 - Discussion on sugar, cotton and British imports from colonies

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