This work investigates the economic and social consequences of the abolition of slavery in the British Empire, specifically questioning whether the transition to free labor was a success or a failure. Seymour Drescher, a prominent historian of abolitionism, utilizes extensive archival data and comparative economic analysis to challenge traditional historiography regarding the post-emancipation period. He argues that the transition was a complex, multifaceted process that cannot be reduced to simple narratives of economic decline or humanitarian triumph, instead presenting a nuanced view of the structural shifts in the British colonial economy.

Historians frequently cite this work as a critical intervention in the study of 19th-century British colonial policy. Experts note the high density of the economic data provided, making it a foundational text for scholars focusing on the history of abolition and labor systems.