The fact that Williams’s previously hard to access doctoral thesis is now available to the general public will help to clarify important aspects of the ‘Williams Thesis’ and its genesis. . . . The route from dissertation to final text runs parallel to Williams’s trajectory from a young black student combating racism and imperial narratives at Oxford to the future prime minister of an independent nation. Apart from being an important historiographical document, Williams’s dissertation is therefore also a historical source in its own right. . . . [R]econsidering the ‘making of’ the Williams Thesis can have a profound impact on how we view its later interpretations and current relevance. . . . The Economic Aspect provides important insights into the genealogy of the Williams Thesis that are much harder to grasp from the more polemical, and more layered text of Capitalism and Slavery. . . . The publication of The Economic Aspect finally makes it possible for a wider audience to retrace Williams’s steps. In the process, we can start to disentangle Williams’s complicated relationship to the Oxford imperial historians, radical predecessors and contemporaries, and the emerging anti-colonial struggles of his day.