this post was submitted on 28 Nov 2025
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Where I'd say Friedman is arguing in bad faith is that the obvious goal of colonialism is value extraction by force or coercion. He may argue that due to inefficiency or resistance it didn't actually produce significant wealth for Britain but the evidence shows otherwise.
That or he may argue that the East India Company (the origin of multinational capitalism) was not colonialism which would be divergent from historical consensus.
Fun fact, Britain had to create taxes in it's East African colonies not to raise income but because British economic interests struggled to recruit workers from people who had everything they needed without the British. Forcing them to pay taxes in currency forced them to accept employment to acquire that currency.
We call that extortion in our part of the world. I assume the British call it that today too.
I'd say coerced wage slavery.