Dependency Economics

Abstract

As an economic empire reaches its apex and transcends from a production emphasis to a consumption emphasis, further growth must rely on the combination of productivity improvements and population increases.

I venture to allude to the impression which seemed generally to prevail among their brethren across the seas, that the Old Country must wake up if she intends to maintain her old position of pre-eminence in her colonial trade against foreign competitors.

(King George V, 1865–1936)