Advances in Economics, Management and Political Sciences
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Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 49 , 01 December 2023
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Access | Article
An Analysis of the Financial Gains from Colonialism of Great Britain
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Abstract
The British Empire is known for its large territory ranging all the way from the Americas to Oceania, with dozens of colonies that brought the empire great wealth and capacity to industrialize and mass produce. Based on data and information on the amount of British colonial production, this article focuses on calculations and estimations of the total colonial gain of the empire above. By estimating the amount of production in selected significant colonies, and then converting the results into the desired unit of measurement, a calculated value of colonial wealth can be achieved. The resulting values reveal that the British Empire is estimated to have generated more than 35 trillion British pounds, 56 million pounds of tobacco, 54 million tons of sugar, 173 million tons of rubber, 39 million tons of wool, and 26 million Terawatt hours of oil. Through calculations of the total colonial gains of the British Empire, the effect of colonization on the mother country and its influence on the modern world can be more easily and directly seen.
Keywords
colonialism, British Empire, financial gains
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-145-2
- ISBN (Online)
- 978-1-83558-146-9
- Published Date
- 01 December 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/49/20230479
- Copyright
- 01 December 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited