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S5 Ep52: How empires rise, and how they fall

VoxTalks Economics

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The History of Empires - Trade or Extraction?

Empires were governed by force and many things have happened in the history of empires. Of course empires implied a lot of extraction, very often though brutal means. extractive institutions were set up by which gains from trade were disproportionately appropriated by the mother country. The slave trade was outlawed by Britain and France in the early 19th century. Many of the most extreme monopolies of the mercantile era were gone by the late 19th Century.

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