![Explainer: How Local Elites in Developing Nations Perpetuate Colonial-Era Wealth Drains in the 21st Century](https://www.jurist.org/features/wp-content/uploads/sites/8/2022/08/money_laundering_1660838097.jpg)
Indian scholar Dadabhai Naoroji championed the theory of the ‘drain of wealth.’ The drain of wealth referred to the ‘tribute’ or the unrequited transfer of resources from the colony to the colonial metropolis. In other words, this theory refers to a portion of the national product of India which was not available for consumption by [...]