ECONOMIC IMPACT OF THE ABOLITION OF SLAVERY ON THE BRITISH EMPIRE: A POST-ABOLITION ANALYSIS

This research analyses the economic impact of the abolition of slavery on the British Empire during the post-abolition period. It explores how the end of slavery disrupted established trade patterns, affected industries connected to slave-based production, and forced both the British government and former slave-owning colonies to adopt new economic strategies. Drawing on archival data, historical records, and key writings by scholars, this study challenges the myth of industrial decline following abolition. It highlights how Britain successfully diversified its economy, reallocating capital to new sectors such as manufacturing, shipping, and banking, while reshaping trade relations and labour systems through wage labour and indentured servitude. The Caribbean and West Africa, where former slave-based economies existed, faced economic decline or reorientation. To achieve these goals, dependency theory and classical economic theory are used as appropriate frameworks, with qualitative and quantitative methods. This study reveals that abolition marked a period of both disruption and adaptation, leading to long-term transformations that reinforced Britain’s global economic influence in the 19th century.