European empires had two key economic aspects: the extraction of colonial wealth by colonizers, and the relevance of trade for the colonial economies. I build a simple model of decolonization that puts these two elements at centre stage. By controlling policy in the colony, the mother country...

The 1979 Iranian Revolution undoubtedly belongs to the "great" revolutions of modern times - all of which were characterized by universalistic efforts and the claim to have set new social, political and cultural norms with global validity. In this sense, the Iranian revolutionaries felt the...