ABSTRACT
During the 1920s and 1930s, expert debates in European states focused on overseas raw materials supplies, often in connection with a country’s foreign currency reserves. The chapter historicizes these expert opinions and relates them to contemporary notions of rational state agency and modern statehood. It will be argued that economic policy designs assumed that overseas regions, perceived as backward and thus malleable, could be controlled and steered in support of national development in Europe. Developmental conceptions established a clear dichotomy between nation-states in Europe and the overseas world. From this perspective, France planned colonial development in the mise-en-valeur. Experts in Germany called for technical innovation to produce substitute materials while also lobbying for colonies. Italian policy-makers stressed the need for colonies due to country’s inability to pay for raw material imports. Britain faced the opposite problem of low raw material prices in the empire and engaged with international commodity schemes as a counter-measure. However, policy designs are not the same as policy outcomes. The conclusion argues about the difference between studying agency in its political contexts from analysing economic performance.
