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Britain and Colonies Economic Growth
Did the British Empire help or hinder economic growth in Britain? In the colonies?
The entity British Empire emerged during the mercantile era and over time remained
active upto the 19th century. During its active period, several strategies instigated by the British
Empire impacted the economy of Great Britain positively and negatively for its colonies. To
begin with, the British Empire brought about various trade restrictions that inhibited freedom and
growth of the colonies. For instance, the Acts of Trade and Navigation policy established in the
1660s aimed at making the colonies more dependent on the finished products from Great Britain
(Messina 29).
Besides this, the British government also introduced heavy taxations to prop up their
armies. This coupled with unsteady and exploitative economic policies left colonies suffering
from frequent inflations after the mother land demanded gold and silver, which were the standard
means of payment, leaving the colonies with less money in circulation (LaHaye 2). Additionaly,
the printed currency was mismanaged to instigate inflation, elements that dictated the difficult
economic conditions witnessed in the colonies.
In conclusion, the British Empire heavily depended on its colonies for its economic
growth, territorial expansion and political domination, wit...