“When a large part of the market for British textiles was in the colonies, a fall in the price of tea and cocoa caused unemployment in Lancashire.”

Source: Economic Heresies (1971), Chapter V, Nonmonetary Models, p. 67

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "When a large part of the market for British textiles was in the colonies, a fall in the price of tea and cocoa caused u…" by Joan Robinson?
Joan Robinson photo
Joan Robinson 46
English economist 1903–1983

Related quotes

Jon Stewart photo
Francis Bacon photo
Benjamin Franklin photo

“The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction. The inability of colonists to get power to issue their own money permanently out of the hands of George the III and the international bankers was the PRIME reason for the Revolutionary War.”

Benjamin Franklin (1706–1790) American author, printer, political theorist, politician, postmaster, scientist, inventor, civic activist, …

Widely quoted statement on the reasons for the American War of Independence sometimes cited as being from Franklin's autobiography, but this statement was never in any edition.
Variants from various small publications from the 1940s:
The refusal of King George to allow the colonies to operate an honest money system, which freed the ordinary man from clutches of the money manipulators was probably the prime cause of the revolution.
The refusal of King George to allow the Colonies to operate on an honest Colonial system, which freed the ordinary man from the clutches of the money manipulators, was probably the prime cause of the revolution.
The refusal of King George to allow the colonies to operate on an honest, colonial money system, which freed the ordinary man from the clutches of the money manipulators, was probably the prime cause of the revolution.
Some of the statement might be derived from those made during his examination by the British Parliament in February 1766, published in "The Examination of Benjamin Franklin" in The Parliamentary History of England from the Earliest Period to the Year 1803‎ (1813); when questioned why Parliament had lost respect among the people of the Colonies, he answered: "To a concurrence of causes: the restraints lately laid on their trade, by which the bringing of foreign gold and silver into the Colonies was prevented; the prohibition of making paper money among themselves, and then demanding a new and heavy tax by stamps; taking away, at the same time, trials by juries, and refusing to receive and hear their humble petitions".
Misattributed
Variant: The colonies would gladly have borne the little tax on tea and other matters had it not been that England and the Rothschild's Bank took away from the colonies their money which created unemployment, dissatisfaction and debt.

V. V. Giri photo
Karl Polanyi photo
Edward Heath photo

“This would, at a stroke, reduce the rise in prices, increase production and reduce unemployment.”

Edward Heath (1916–2005) Prime Minister of the United Kingdom (1970–1974)

Statement (16 June 1970), quoted in The Times (17 June 1970), p. 4. This would be quoted back at Heath repeatedly during his premiership.
Leader of the Opposition

“During the colonial epoch, the British forced Africans to sing”

How Europe Underdeveloped Africa (1972)

Stephen Harper photo
John Kenneth Galbraith photo

Related topics