This paper presents theory and evidence to show that imperialism was a major factor impeding the spread of the industrial revolution during the century ending in the 1950s. Two empirical results stand out. First, analysis of historical evidence shows that most sovereign countries were...

This paper presents a critique of W. Arthur Lewis' economic explanation of the division of the world into industrial and agricultural countries. First, Lewis' claim that industrialization in the tropics was held back by small markets and adverse factoral terms of trade is flawed in its logic,...