The Power of Commerce: Economy and Governance in the First British Empire

Rating:
Summary: Worthwhile history of British 18th Cent. economic thought
Review: This book works its way through various British administrations growing awareness of the interrelationship between imperial policy, international trade and the costs of governance through the 18th Century. It is a worthwhile attempt to explain the oscillations in British taxation and imperial policies throughout this time, - its best point is the as wars became increasingly expensive, governments were forced into borrowing based on future tax receipts. Therefore governments differed on the best ways of ensuring the continued growth of taxes - to tax imports, or exports, or transactions, or land etc. and at what rate. There are many fine quotations showing the development of economic thought - in particular the negative effect of taxation on trade, the emergence of a mercantilist philosophy, and the various ploys to get the citizens of various colonies to contribute the tax burden.

The book suffers in terms of a stilted style, some untranslated latin expressions, pompous words like 'undergirded', and repetitions between chapters which could have been edited. Apart from the style issues, the content of the book fine, but for better content and delivery try John Brewers "The Sinews of Power".