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Wealth Transfer and Long-term Damages—The Case of European Expropriation in East Africa

In: Accounting for Colonialism

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  • Thomas D. Boston

    (Georgia Institute of Technology)

Abstract

This chapter highlights the very early stages of pre-imperial, pre-colonial relations between East Africa and Europe. It provides background for the systems of unjust enrichment and damaging economic relationships that developed later. It provides a story of the emergence of trading, and then military dominance, that allowed excess transfer of resources, especially by Portugal. This helps create a foundation for estimating damages, and income and wealth transfer in situations marked by various forms of abuse of dominance. Does this analysis provide a basis for understanding the scale of loss, and pecuniary harm in cases of unfair sustained interference, and forced unbalanced economic relations between stronger and weaker parties? Does the finding seem reasonable, that, from 1418 through 1983, the transfer value was $2.7 Trillion? (Forward to 2023 at 2% compounded, the value is roughly $5 trillion.)

Suggested Citation

  • Thomas D. Boston, 2023. "Wealth Transfer and Long-term Damages—The Case of European Expropriation in East Africa," Springer Books, in: Richard F. America (ed.), Accounting for Colonialism, chapter 0, pages 47-56, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-32804-6_3
    DOI: 10.1007/978-3-031-32804-6_3
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