The Imperialism of Free Trade

Abstract I It ought to be a commonplace that Great Britain during the 19th century expanded overseas by means of “informal empire” as much as by acquiring dominion in the strict constitutional sense. For purposes of economic analysis it would clearly be unreal to define imperial history exclusively as the history of those colonies coloured red on the map. Nevertheless, almost all imperial history has been written on the assumption that the empire of formal dominion is historically comprehensible in itself and can be cut out of its context in British expansion and world politics. The conventional interpretation of the 19th-century empire continues to rest upon study of the formal empire alone, which is rather like judging the size and character of icebergs solely from the parts above the water-line.