Birdwatch Archive

Birdwatch Note

2024-04-19 12:47:23 UTC - MISINFORMED_OR_POTENTIALLY_MISLEADING

The $45 trillion figure is controversial. It's based on assuming 5% compound interest since 1765 (assuming 2% instead would reduce the figure to just $69bn), and it assumes that all net exports to the UK from India were being "drained" regardless of how they were paid for. https://www.reddit.com/r/AskHistorians/comments/gc3ifr/utsa_patnaik_claims_that_the_british_siphoned_45/fp9yyx0/ https://www.reddit.com/r/AskEconomics/comments/xb2bho/ive_seen_a_lot_of_posts_in_the_last_few_days/inxfwfa/

Written by ADB91A3245808E77E001C0573A3EDFB5CF54E507DE1B8AF91EBB0E562E144A46
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• noteAuthorParticipantId - ADB91A3245808E77E001C0573A3EDFB5CF54E507DE1B8AF91EBB0E562E144A46 Participant Details
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• classification - MISINFORMED_OR_POTENTIALLY_MISLEADING
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• summary
• The $45 trillion figure is controversial. It's based on assuming 5% compound interest since 1765 (assuming 2% instead would reduce the figure to just $69bn), and it assumes that all net exports to the UK from India were being "drained" regardless of how they were paid for. https://www.reddit.com/r/AskHistorians/comments/gc3ifr/utsa_patnaik_claims_that_the_british_siphoned_45/fp9yyx0/ https://www.reddit.com/r/AskEconomics/comments/xb2bho/ive_seen_a_lot_of_posts_in_the_last_few_days/inxfwfa/