Badenoch Says Britain’s Success Is From ‘Ingenuity’ Not Colonialism

Business Secretary Kemi Badenoch says “British ingenuity and industry” led to the economic success of the UK, not colonialism. She made the comments while applauding a study by the Institute of Economic Affairs (IEA) think tank released on Wednesday, in which political economist Kristian Niemietz said the slave trade played a minimal role in Britain’s growth as a commercial power. Mr. Niemitz, the IEA’s head of political economy, argued colonialism made a “minor contribution” to Britain’s economic development, “and quite possibly none at all.” He said the costs of administering a huge empire and paying for an army and navy to protect it outweighed the benefits from trade....