Oxfam Report on Colonialism and Its Legacy

Extraction of Wealth

• Between 1765 and 1900, the UK extracted $64.82 trillion from India.
• $33.8 trillion of this wealth was concentrated among the richest 10% of the UK population.
• Oxfam suggests this amount could carpet London nearly four times with £50 notes.

Legacy of Colonialism

• Colonialism has resulted in a deeply unequal world, with wealth extraction from the Global South benefitting the Global North.
• Modern multinational corporations are seen as creations of colonial times, exemplified by the East India Company's monopoly practices.

Impact on India

• In 1750, India accounted for 25% of global industrial output, which declined to 2% by 1900 due to protectionist policies against Asian textiles by Britain.
• During World War I, colonial trade disruptions inadvertently spurred industrial growth in colonies.
• Post-independence, wealth and political power remained concentrated among the richest in the Global South.

Economic Exploitation

• Wages in the Global South remain 87% to 95% lower for similar work compared to the Global North.
• Global supply chains and industries perpetuate colonial systems of wealth extraction, with poor working conditions prevalent in the Global South.

Societal Impact

• The caste system in India was formalized during British rule, reinforcing social stratification.
• Only 0.14% of India's mother tongues are used for instruction, with 0.35% taught in schools.

Colonial Enterprises and Military Power

• Private multinationals, such as the East India Company, played a major role in colonialism, often employing their own armies.
• Military expenses constituted 75% of the East India Company's budget, overshadowing public works which were only 3%.

Biopiracy and Opium Trade

• Oxfam highlights instances of biopiracy, exemplified by a US patent on neem tree extracts traditionally used in India.
• The opium trade, used by the British to consolidate colonial rule, resulted in significant addiction problems in China.

Health and Infrastructure

• British colonial policies led to dire public health and infrastructure impacts in India, with famine and poverty persisting as major issues.
• Ongoing privatization efforts by global bodies like the World Bank further exacerbate inequality in public service access.

Global Inequality

• Despite formal equality, the Global North continues to dominate global bodies, often sidelining interests of the Global South.
• Oxfam criticizes the WTO and other global organizations for failing to address these inequalities, especially highlighted during the COVID-19 pandemic.

This report by Oxfam underscores the lasting impacts of colonial exploitation and its role in shaping present-day global inequalities, advocating for a reevaluation of historical practices and current economic systems.