Colonialism

The most suffering on our planet today comes from just one cause; colonialism. Racism, sexism, the economic inequality between the Global North and the Global South, the pain inflicted by capitalism, the meteoric rise of the billionaire class wielding enormous power and influence over business practices and governments, many civil wars, entrenched war zones, the long-suffering after-affects of slavery; all are a direct result of historic colonialism.

Tens of millions of people across the world have suffered land theft, persecution, forced labour, abject torture and penury because white supremacy gave itself justification and a moral licence to inflict unprecedented and systematic levels of brutality, exploitation, and, at times, extermination.

Colonies that involved the large-scale immigration of settlers, such as Canada, the USA, Australia, Algeria, South Africa and Kenya, were often the site of some of the most appalling colonial acts, as settlers sought to liquidate existing Indigenous populations, take their land and plunder it for resources. These were terrible crimes, immense in their violence and scale, and were the precursors of the genocide of World War Two in Europe.

Rich Elites Spawned Colonialism

Historically, rich elites were the prime instigators and beneficiaries of colonialism. Several kings and queens of England supported and profited from slavery. Many English stately homes, such as the aristocratic mansions made famous by Jane Austen and more recently by the television series, Downton Abbey, were built, benefitted from, or connected to the spoils of slavery and colonialism. King Leopold of Belgium had the Congo as his own personal colony, presiding over appalling cruelty that caused 10 million deaths while amassing a personal wealth of US$1.1 billion.

Racism

Heinous ideas of a ‘hierarchy of races’ underpinned the historical colonial period. Racism that saw some human beings as ‘sub-human’, and therefore not deserving of equality, was used to justify and legitimise genocide, slavery and theft. This deeply harmful and divisive racist legacy continues to shape societies and our world today.

In Australia, a third of the First Nations peoples are in the poorest 20% of the population and earn on average 72% of what non-First Nations Australians earn. In South Africa white South Africans still earn three times more than their Black counterparts nearly 30 years after the end of apartheid. During the pandemic, the Global North put pharmaceutical profits far ahead of saving lives of people in poorer countries in the Global South, which cost millions of lives.

‘Divide and Rule’

During the historical colonial period, multiple divisions were expanded and exploited, including caste, religion, gender, sexuality, language and geography. These divisions were used by colonisers and the rich and powerful to maximise possibilities for exploitation and to undermine any unified opposition. The colonial practice of deliberately favouring some communities at the expense of others, also known as “divide and rule”, led directly in many cases to ethnically driven civil war.

In Rwanda and Burundi, Belgian favouritism toward Tutsis over Hutus fed decades of resentment, culminating in genocide and civil war. In Nigeria, British reliance on northern elites deepened regional divides that sparked the Biafra War, while in Sudan, the policy of the British privileging Arab northerners over southerners laid the ground for two civil wars and eventual partition. In Sri Lanka, Tamil advancement under British rule bred Sinhalese backlash and a 26-year civil war, while in Malaysia, similar policies fuelled ethnic riots and tension.

In Ireland, centuries of British policies privileging the Protestant settlers over the native Catholic majority and carving the country into two ‘different countries’ set the stage for the Irish Civil War, and, later, the three-decade conflict mostly in the north of Ireland known as ‘The Troubles’.

“Of the US$64.82 trillion extracted from India over a century of colonialism, US$33.8 trillion went to the richest 10% in Britain.”

Image: Mahatma Gandhi (1869–1948) was a political and spiritual leader from India who became one of the most influential figures of the 20th century. Gandhi mobilised millions of Indians in campaigns against British colonial rule, using civil disobedience rather than armed struggle. His approach not only played a decisive role in India’s independence in 1947 but also inspired later movements for civil rights and freedom worldwide, including Martin Luther King Jr. in the U.S. and Nelson Mandela in South Africa.

In the Middle East, Britain reinforced Sunni dominance in Iraq, institutionalising a sectarian imbalance that later erupted into conflict and in Palestine, alternating British support for Jewish and Arab communities created lasting hostility that exploded into the Israeli–Palestinian conflict that is still playing out today. Many Jews see Israel as a vital refuge from centuries of persecution, while Palestinians and much of the Global South see it as a settler-colonial project rooted in British mandate politics with Western support. Israel sits at a crossroads; faced with intensifying public pressure to heal this divide, it is losing political global support in a post-colonial world.

Billionaire Colonialism

Colonialism did not just have a history of brutal wealth extraction and violence, but its legacy led to the extreme levels of wealth inequality in the world today. Colonialism has directly led to not just the wealth transfers to the ultra-rich, but disproportionately to the ultra-rich in the wealthiest countries in the Global North. We live in an age of billionaire colonialism.

Colonialism transferred massive wealth from the labour of millions in the Global South to a small rich white male minority in Europe. Of the US$64.82 trillion extracted from India over a century of colonialism, US$33.8 trillion went to the richest 10% in Britain. Colonialism also helped to accelerate industrial development in the Global North, while simultaneously it deindustrialised and impoverished many countries in the Global South, leaving an enduring legacy of extreme inequality.

“The National Trust in Britain, which looks after over 200 stately homes, calculated that a third of those properties had some connection to the slave trade. And those people with the most slaves made the most money when slavery was abolished.”

The systemic injustices created by the financial infrastructures of the Global North, in taxation, banking and finance, international financial systems including the IMF and World Bank, are all heavily influenced by legacies of colonialism.

The individuals who gained monetarily from colonialism were the already wealthy and those who had ties to the slave trade. The National Trust in Britain, which looks after over 200 stately homes, calculated that a third of those properties had some connection to the slave trade. And those people with the most slaves made the most money when slavery was abolished.

In 1833, the British government borrowed £20m to compensate slave owners at what amounted to 40% of the Treasury’s annual income representing £3.1 billion in today’s money. This was only finally paid off in 2015. It represented a huge transfer of wealth from UK taxpayers to rich slave owners, while enslaved people and their descendants received no compensation for having their lives stolen from them, being forced to work, unpaid, under the harshest conditions enduring murder, rape, torture, having their children stolen from them and being treated as ‘sub-human’ for centuries. In the UK, a significant number of the richest people there today can trace their family wealth back to slavery and colonialism, specifically to this compensation that was paid to rich enslavers when slavery was abolished.

The divide between the wealthy and the poor has increased since then, with the ‘wealthy and well-connected’ using their resources to amass further fortunes. Globally, almost 3.6 billion people are living under the World Bank poverty line of US$6.85 per day and this represents 44% of humanity. Meanwhile, the richest 1% own 45% of all wealth. (Source: Oxfam Report, ‘Takers not Makers: The Unjust Poverty and Unearned Wealth of Colonialism’, Jan 2025)

“This small, interconnected elite, whose wealth and influence extends beyond politics, finance, media and technology, contains just over 3,000 billionaires who control $15.5 trillion, which is nearly as much as the combined GDP of the European Union.”

Billionaires Today

Last year, over 200 new billionaires were created and billionaire wealth rose overall by US$2 trillion, which was three times faster than the year before that.

Most billionaire wealth is taken, not earned; 60% comes from either inheritance, cronyism and corruption or monopolised power. Trillions are being gifted in inheritance, creating a new aristocratic oligarchy that has immense power in our politics and our economies. Wealth and power come from not just what you have, but also who you know, meaning that the ultra-wealthy have access to powerful political elites and they have the power to influence policy. American billionaire investor, hedge fund manager, and philanthropist, Ray Dalio, coined this by saying, “The more wealth you have, the more power you have, and the more you can bend the rules in your favour.”

This small, interconnected elite, whose wealth and influence extends beyond politics, finance, media and technology, contains just over 3,000 billionaires who control $15.5 trillion, which is nearly as much as the combined GDP of the European Union.

The networks connecting these elites are extensive and interlocking, encompassing multinational corporations, media conglomerates, private equity, hedge funds, and political advisers. Executives often sit on multiple boards, reinforcing aligned interests and ensuring that corporate and financial decisions protect shared wealth. For instance, BlackRock and Vanguard together hold substantial stakes in nearly every major publicly traded company, giving them the ability to influence management decisions, market strategies, and executive compensation across industries.

“Citizens are left with little ability to influence decisions that shape their daily lives, while elites can effectively rewrite the rules in their favour.”

This concentration of wealth also perpetuates political influence. Billionaires and major corporations fund think tanks, political campaigns, and lobbying organisations that protect their interests. The structural mechanisms of wealth accumulation, inheritance laws, tax havens and financial loopholes, allow the richest to maintain and expand their power across generations. This isn’t a natural outcome of meritocracy; it is the product of deliberate systems designed to consolidate power and wealth at the top, insulating elites from accountability, while marginalising the majority. Citizens are left with little ability to influence decisions that shape their daily lives, while elites can effectively rewrite the rules in their favour.

The Consequences

These interconnected networks ensure that policies, investments, and media narratives remain aligned with elite priorities, while public and environmental interests often remain peripheral. This is key to how the world of finance and governance is really run.

The consequences of this system are staggering. Income inequality continues to widen; the top ten per cent of the globe’s wealthiest now owns nearly 75% of all wealth, while the poorest half of humanity survives on less than 2%. Social mobility is shrinking, and wages stagnate while living costs rise. Essential services like healthcare, education, and housing are increasingly commodified, leaving ordinary citizens vulnerable to economic volatility. Environmental degradation disproportionately impacts marginalised communities, while corporate lobbying frequently weakens regulations designed to protect the planet.

In 2023, for example, fossil fuel companies collectively spent over $2 billion lobbying governments worldwide, often diluting climate legislation in favour of profit. The system is engineered to protect the few, while the majority bear the costs of ecological, economic, and social exploitation.

“To radically reduce inequality, we need to end extreme wealth.”

So, How Do We Fix It?

Structural inequalities require structural reform. Despite the entrenched nature of these networks, systemic change is possible. Progressive taxation on billionaires and multinational corporations can generate revenue to fund universal healthcare, education, and infrastructure, providing a safety net for those left behind. The immediate reform of campaign finance rules in the United States can curb the disproportionate influence of money in politics, ensuring that policies reflect public needs rather than private profit or lobbyist interests. Strengthening democratic institutions, including free elections, politically independent judiciaries, and a fair and accountable media, are all critical for holding elites to account.

The IMF, the World Bank, the UN and other global institutions should completely change their governance to end the formal and informal dominance of the Global North and the interests of their wealthy elites and corporations. The dominance of wealthy nations and corporations over financial markets and trade rules must be ended. In its place, a new system is needed that promotes economic sovereignty for Global South governments and enables access to fair wages and labour practices for all workers.

A Wealth Tax to End Extreme Wealth and Fund Reparations

To radically reduce inequality, we need to end extreme wealth. This requires taxing the richest people and corporations with a global ‘wealth tax’ policy that should fall under a new UN tax convention. National taxation systems are not enough; the ultra-rich are highly mobile and will move to countries where tax regimes are most favourable for them to retain their wealth. This new ‘wealth tax’ needs to be global, administered by the UN, and the proceeds from it should be paid as reparations to those who suffered the most in the implementation of the inequality that brought about the extreme wealth in the first place; the decedents of those who were displaced, dispossessed and suffered under colonialism and slavery.

“National taxation systems are not enough; the ultra-rich are highly mobile and will move to countries where tax regimes are most favourable for them to retain their wealth.”

This includes individuals, but also the countries in the Global South who suffer disproportionately for the gain of the elites in the Global North. Funds from this tax should also be paid into education systems that promote South-South cooperation and solidarity programmes. There needs to be acknowledgment by governments who were responsible for these injustices and public apologies for their crimes.

What Can We Do As Individuals?

Grassroots activism remains one of the most powerful tools for change. Movements like the global climate strikes, labour union campaigns and anti-corruption coalitions demonstrate that collective action can pressure governments and corporations to adopt more equitable practices. Ordinary citizens can support these movements through volunteering, donations, and active participation in advocacy campaigns. Ethical consumerism is key. By prioritising companies that adhere to sustainable and fair practices, individuals can create market incentives that challenge corporate excesses.

“We have the power to demand this kind of empathic change, for the betterment of all people and the planet itself.”

Education and awareness are equally vital. Understanding the mechanisms of elite influence, how boards, lobbying, and media narratives operate, empowers citizens to challenge misinformation and advocate effectively. Sharing knowledge through social networks, community groups, or public forums increases collective awareness. Sharing this blog can help push these ideas forward. Engaging in local governance, attending council meetings, and communicating with elected officials are practical steps that ensure ordinary citizens retain some control over decision-making processes. Ultimately, dismantling elite dominance requires a combination of systemic reform and personal action.

Either we are serious about ending inequality and injustice or we are not. We cannot build a new world using the oppressive systems of the past; those systems need to be revoked and rebuilt. Ending the modern impacts of colonialism is a powerful way to start that work. And we have the power to demand this kind of empathic change, for the betterment of all people and the planet itself. As Martin Luther King Jr. once said, “Power at its best is love implementing the demands of justice.”