How does the concept of the imperialism of free trade explain the rise Essay

How does the concept of the imperialism of free trade explain the rise and fall of the British Empire - Essay Example Though it took some time for other nations to understand this concept, but it is now a known phenomenon and is admired and adopted throughout the world. Free trade is a type of trade between countries, where trade is done without any restrictions of governments from both sides. Different countries prefer free trade; the reason is that it provides benefit to people. The countries involved in free trade are usually on the friendly terms and in a way it shows their trust upon each other. Not only goods but also services are provided without taxes and other obstacles that could be faced otherwise. The main beneficiaries of free trade are the common people of those countries that get full advantage of low priced goods. A country, after getting privilege of free trade, can gain access to the market of the other country easily and they can invest their capital without any concern of the future policies of that country. Free trade is not a new phenomenon in the economies of the countries. It is been practiced for centuries in different forms. It is considered to be a vital factor of any country's flourishing economy and successful economic policies. This concept was given by the famous economist David Ricardo. Though the country with large and strong economy got a big share of profit than the other one, but still this phenomenon is popular in today's world. British Empire could be regarded as one... The key to their success in this whole time was their strong economy. Their stable and strong economy leads them everywhere in the world and once they set their foot in the particular country, no one can stop them from achieving their imperialistic aims. Their influence was obvious in every field of that country, people follow their way of living and adopt their styles, and they finally took over that country or the region. The famous quote about them was that "The sun never sets on British Empire". The British Empire started arising in seventeen century, when they reconcile with their rival Spain in 1604. America is referred as their first colony and the list of colonies goes on, which includes a large part of land in almost every continent of the world. And they started this all with trade, either its Tobacco, Rice, Fur, Cotton, Raw Material or even slaves. Asia was considered to be Portugal's territory, but in the late 16th century, British and Dutch found their way in Asia as well, which at that time considered being a wealthy piece of land, especially India. East India Company was set in early 1600's and it provided British people to set their foot at in the rich and mysterious land of India, at that time was ruled by Mughals. The famous export of India was spices and textile. British lost their colonies in American Continent during 1760's to 1770's, and it was a great loss for the Empire. But they still got the Asia, a gold mine in their hands. Asia, particularly India, was considered to be the most profitable colony of British Empire and they earned a lot from this part of the land. At this time, Adam Smith gave the concept of Free Trade. According to him, it is not necessary to have a military or a political rule over a