202410041453 Status: #idea Tags: #history #politics #institutions #british_empire #globalization #economics # Global trade may not have been possible without the British Empire Critics of the British Empire suggest that Britain would have been better off without colonization, instead focusing on global free trade. However, these historians and economists may be missing the flow of institutions and ideas that arose from the British Empire. The British were a maritime power, very interested in maximizing the amount of trade occurring in the empire (and therefore its wealth). These trade-favoring institutions were implemented in its colonies (covering 1/4 of the world) by force in many instances. It is possible that this forced spread of market economies and institutions focused on global trade are what paved the way for globalization in the 20th and 21st centuries. Without British imperialism, we may never get American globalization. This change imposed globally by the British Empire is important because [[Market capitalism is powerful because it defines a system of continuous rejuvenation]]. This allowed for self-improving economic systems to proliferate across the globe. [[The two main lines of criticism for the British Empire]] [[Empires encourage capital flows to the developing world]] --- # References [[Empire_ the rise and demise of the British world order and the lessons for global power]]