Who is your favorite Economist...past or present?

Your claim about the most colonized countries being better off is completely false. In fact the opposite is true, and Botswana is probably the prime example of this. Since it's independence it has maintained the highest rate of growth in Africa. One of the main reasons for this is because the British left them alone. The relationship was an exchange of protection for hut tax. Because the British left the governmental structures pretty much alone, they had the institutions ready to create an inclusive democracy and economy. Nigeria one of the most heavily colonized states has suffered greatly for it. The British pitted the Christians against the Muslims with Colonial favoritism and dismantled any sense of cohesion there. Nigeria still very much suffers for it today. Even your example of the Belgian Congo is incorrect. The reason why it is one of the most economically failed reasons of the world today is because of the nature of its colonization. The slave trade and mining was based completely around exploitation. When the Europeans left, the natives simply changed the people in power, not the power structure. Colonial favoritism and exploitation created large imbalances in power which only perpetuated and reenforced systems based on economic and political exclusion. Even when you look at the New World this still holds true. Until the aftermath of the seven years war, The 13 colonies and the Crown largely cooexisted through benign neglect. The Spanish in Mexico and the rest of the encomienda system greatly exploited the people and created a corrupt elite just like in central Africa. This is even true when one looks at Argentina and sees that the less exploited regions are the most prosperous parts of the country today. In places like Australia, Canada and the US these colonies succeeded because instead of creating a system based off extraction, the British set up a relatively inclusive society based with the prototypes of a liberal democracy. That is the only reason an illusion of colonization creates prosperity exists. A lot of what I said is actually what Acemoglu is famous for and if you weren't too busy pulling out the socialist card, this might be apparent. I'm sorry this is long winded but it's probably the topic I've most studied and most familiar with and I felt obligated to correct the nation that colonization somehow creates prosperity. No, it's democratic institutions based on political pluralism with an inclusive economy capable of promoting technological change.