A milestone in the understanding of British history and imperialism, and truly global in its reach, this magisterial account received numerous accolades from reviewers in its first edition. The first to coin the phrase "gentlemanly capitalism", Cain and Hopkins make the strong and provocative argument that it is impossible to understand the nature and evolution of British imperialism without taking account of the peculiarities of her economic development. In particular, the growth of the financial sector - and above all, the City of London - played a crucial role in shaping the course of British history and Britain's relations overseas. Now with a substantive new introduction and a conclusion, the scope of the original account has been widened to include an innovative discussion of globalization.

This work is a path-breaking study of the changing attitudes of Canada, Australia, New Zealand and South Africa to Britain and the Commonwealth in the 1940s and the effect of those changes on their individual and collective standing in international affairs. The focus is imperial preference, the largest discriminatory tariff system in the world and a potent symbol of Commonwealth unity. It is based on archival research in Britain, Canada, Australia, New Zealand and the United States.