Free Republic

The British Empire and other major European powers did not significantly enrich themselves through slavery and colonialism but rather may have taken a net loss as a result, a report has asserted. Contrary to narratives pushed by ‘anti-colonialism’ academics and promoted by leftist talking heads, Western capitalism was not built off the backs of colonialism and slavery, fresh research from Kristian Niemietz of the Institute of Economic Affairs claims. The head of Political Economy at the IEA argues that while some select elite families within Britain and other colonial powers profited immensely during the time, such gains were not felt...

In 1678, a Chaldean priest from Baghdad reached the Imperial Villa of Potosí, the world’s richest silver-mining camp and at the time the world’s highest city at more than 4,000 metres (13,100 feet) above sea level. A regional capital in the heart of the Bolivian Andes, Potosí remains – more than three and a half centuries later – a mining city today. Its baroque church towers stand watch as ore trucks rumble into town, hauling zinc and lead ores for export to Asia. Elias al-Mûsili – or Don Elias of Mosul, as he was known – arrived in 17th-century Potosí...