With the 19th century drain, no one was certain if the benefit exceeded the cost and since the rulers were foreign the suspicion was that any investment they made was not beneficial. But the lesson for the 21st century is clear. Any drain internal or external should be minimised if not...

This article views the four economies of the South in a long run historical perspective of 1500-2000. It contrasts the history and the initial endowments of the two Northern hemisphere economies China and India which are land scarce and labour abundant with the two Southern hemisphere economies...