THE ECONOMIC LIFELINE OF BRITISH GLOBAL EMPIRE: A RECONSIDERATION OF THE HISTORICAL DYNAMICS OF THE SUEZ CANAL, 1869-1956

Abstract

Author(s): Dr. Olukoya OGEN

This paper re-examines the historical dynamics of the events that led to Suez Canal crisis of 1956. Most significantly, and unlike several other works on the Suez Canal with their emphasis on political, military and strategic factors, this present study points out that economic factors exerted a preponderant influence in shaping the course of events during the period under review. Consequently, the approach adopted in this work is that of the economic theory of imperialism. Thus, apart from situating the history of the Canal in its proper historical perspective, the paper posits that the intense struggle for the control of the Canal between Egypt on the one hand, and the West on the other, emanated primarily from the latter’s attempt to exploit and dominate the Egyptian economy. 

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