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Economic Motives Of British Imperialism

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British Imperialism started in India in the year 1600 with the goal of draining wealth from India through the establishment of the East India Company and lasted until 1947, when India gained its independence from Britain. While under British rule, India was shaped socially, politically, and economically. In regards to the economic aspect of India, some historians contest that India’s wealth was augmented by British Imperialism while others have argued that British Imperialism actually drained the wealth from India. One historian that takes on this debate is Tirthankar Roy, who wrote the book Traditional Industry in the Economy of Colonial India and argues that the changes that occurred to India’s industries during British Imperialism had a …show more content…

G. Hopkins’s thesis is that British Imperialism was mainly motivated by economic motives that developed from the capitalist society of Britain and that Imperialism left lasting impressions on the nations it impacted. Cain and Hopkins argue that it was an economic motivation that drove British Imperialism. This is shown when they state, “[Capitalism’s] main dynamic was the drive to create an international trading system centered on London and mediated by sterling.” This quote conveys that British Imperialism was motivated by Capitalism in order to create an international trading system that the British could profit off of. Cain and Hopkins provide additional support to their argument by discussing the economic depravity in Britain when Britain’s agriculture declined and the gross value of arable output fell from £104 million to £62 million. This decline in agriculture conveys the need for economic growth in Britain that was attained through Imperialism.
Furthermore, Cain and Hopkins argue that this economic motive stemmed from the capitalist society of Britain, which is conveyed when they state, “As the leading port, London itself was already distinguished by the wealth and cosmopolitan character of its merchant community, and was well placed to launch new ventures overseas.” This statement shows that London already had a capitalist structured society that set it on a course for expansion and Imperialism. This is evident since the East India Company originated from London and was Britain’s main source of influence in

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