Colonialism before the First World War
/by/Utsa Patnaik
<https://monthlyreview.org/author/utsapatnaik/>andPrabhat Patnaik
<https://monthlyreview.org/author/prabhatpatnaik/>
(Feb 01, 2021)
Topics:Class <https://monthlyreview.org/subjects/class/>,History
<https://monthlyreview.org/subjects/history/>,Imperialism
<https://monthlyreview.org/subjects/imperialism/>,Marxism
<https://monthlyreview.org/subjects/marxism/>
Places:Asia <https://monthlyreview.org/geography/asia/>,Britain
<https://monthlyreview.org/geography/europe/britain/>,Europe
<https://monthlyreview.org/geography/europe/>,India
<https://monthlyreview.org/geography/asia/india/>
British Indian Empire
<https://monthlyreview.org/wp-content/uploads/2021/02/IndiaPolitical1893ConstablesHandAtlas.jpg>
British Indian Empire, "Political Map of the Indian Empire, 1893"
from/Constable's Hand Atlas of India/
<https://books.google.com/books?id=-kAuAAAAYAAJ>, London: Archibald
Constable and Sons, 1893.Link
<https://en.wikipedia.org/w/index.php?curid=21528798>.
Utsa Patnaikis professor emerita andPrabhat Patnaikis professor emeritus
at the Centre for Economic Studies and Planning at Jawaharlal Nehru
University in New Delhi. Utsa’s books include/The Agrarian Question in
the Neoliberal Era/and/The Republic of Hunger and Other Essays/.
Prabhat’s books include/Accumulation and Stability Under
Capitalism/,/The Value of Money/, and/Re-Envisioning Socialism/.
This article is adapted from chapter 9 of their new Monthly Review Press
book,/Capital and Imperialism: Theory, History, and the Present/.
The Western European powers appropriated economic surplus from their
colonies, and this materially and substantially aided their own
industrial transition from the eighteenth century onward, as well as the
diffusion of capitalism to the regions of new European settlement. In
the literature on economic growth, however, we find little awareness
of/the existence of such transfers/, let alone their sheer scale, or the
specific real and financial mechanisms through which these transfers
were effected. Much research still remains to be done in this area. In
the case of India, however, for well over a century there has been a
rich discussion on transfers, termed the/drain of wealth/, initiated by
two outstanding writers, Dadabhai Naoroji and R. C. Dutt.^1
<https://monthlyreview.org/2021/02/01/the-drain-of-wealth/#en1>Here, we
confine ourselves to discussing transfers only in the context of India.
https://monthlyreview.org/2021/02/01/the-drain-of-wealth/
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