The First British Empire, the Whig Supremacy, and the East India Company
This chapter discusses the efforts to transform the political economy of England's imperial expansion during the Commonwealth (1649–1653). The architects of the Commonwealth's new imperial political economy were principally drawn from the worlds of unregulated Atlantic trading and East Indian interloping. In alliance with elements of the landed elite and middling social strata in London, these new merchant groupings helped to shift England's centralized territorial state away from an essentially extractive relationship with overseas commercial and colonial expansion—whereby the state attempted to “arbitrarily” raise revenues from such expansion—toward a new relationship in which the state was fully committed to providing the public infrastructure and military protection necessary for the unlimited flow of English trade, shipping, and investment across the globe.