Afterword: The Economics of the ‘British World’

Abstract

Click to increase image sizeClick to decrease image size Notes In this context see also Dilley, ‘“The Rules of the Game”’. Darwin, Empire Project. Belich, Replenishing the Earth. On this settler theme, see also Weaver, Great Land Rush. Keynes, General Theory, ch. 12. Schumpeter, Theory of Economic Development. Said, Orientalism, 88–92. On British international banks as free-standing companies, see Jones, British Multinational Banking, 9–10. These banks were also successful in dealing with principal/agent problems, mainly through ‘socialisation strategies’ (Jones, 47–52) and it would be interesting to know if companies like those examined by Tennent employed similar strategies. Keynes, General Theory, 161. Although Attard mentions the 1866 London-based financial crisis there is room here for further investigation of its impact on investor expectations about Queensland investments at the time. Cain and Hopkins, British Imperialism, 222–23. Dilley, Finance, Politics and Imperialism, chs 3–4. Lewis, Growth and Fluctuations, 188–93. Magee and Thompson, Empire and Globalisation, Wakefield ‘Letter from Sydney’, 165. Not all British settlements were viewed in the same way at the same time. In 1900, for example, Australia was still recovering from the financial crisis of 1893 and was viewed less favourably in London than Canada where a boom on the western frontier was just beginning. Forster, Our Colonial Empire, 13. Dilke, Problems of Greater Britain, vol. 1, 5, 461.