Introduction: The industrial revolution allowed Europe to become an one of the economic power houses of the world. Why the industrial revolution happened in Europe and not in Africa will be the subject of the argument. Specific reference will be on the period of the explorers (Ca. 1400-2750) and the period of the industrial revolution, specifically in Britain (Ca.1750-1900). The following aspects will be the main discussion points: Colonialism and its effect on Africa, Geographical location, the cultural difference between Africa and Europe, Human capital formation in both Countries and the institutional development in each continent.
"Did colonization matter for growth?” An empirical exploration into the historical causes of Africa's underdevelopment." European economic review 46.10 (2002): 1851-1871. Edwards, Lawrence. "Globalization and the skills bias of occupational employment in South Africa." South African Journal of Economics 69.1 (2001): 40-71.
However, it provides important insights regarding power relationships between countries as they engage in trade. Globalization theory also has its own biases; it focuses too much on the competitive advantage of regions and ignores the role that politics and governments play. For instance, the Malaysian government managed to attract foreign investors in the 1970s through free trade zones and the new economic policy (Rasiah, 2013). Similarly, heavy subsidies have managed to provide the Texas cotton farmers
First, I found it interesting to know that Columbus was not the first person who actually found the "new world"; people from different continents had reached Americas many times before him. The second interesting thing was, several textbooks claim Europe was becoming richer and that the new wealth led to more trade. But actually, historian Angus Calder pointed out "Europe was smaller and poorer in the fifteenth country than it had been in the thirteenth". The third thing I found interesting was, not even a single text book mentioned arms as a cause of European world domination, even though it was. The fourth thing I found interesting was out of twelve book surveyed only two mention the possibility of African or Phoenician exploration.
The Imperialism of Africa is a world nation over political, economic and cultural affairs of other countries and region. The European Imperialism was caused by the loss of The American colonies during 1700s and 1800s. According to the passage, document B John Ruskin born in 1819 and 1900 stated that England must do to again a source of light, a center of peace, meaning to find the colonies as fast as possible this was economic and political reasons. The Europeans took over Africa at which it was shown on Document A, every land has been taken over by the Europeans except for Libya and Ethiopia. According to this continuous with the passage Europe and the number one trade and sea power, another man named Fabri believed that Saxon British colonies would begin competing.
Colonialism integrated Africa into international labor division. Colonialism is when a country or state overpower a particular state by a use of propaganda for them to agree with their terms without the targeted state or country saying anything to the above-mentioned terms (Ocheni & Basil, 2012). Colonialism in Africa refers to the incident which took place during the 1800-1960s where European states came into Africa and exploit resources. This essay will validate the effects of colonialism in Africa and how it affected the economy of Africa states which led them to be in the current economic state, furthermore, it will outline how colonizers used their colonial methods to get Africans to change their indigenous ways of doing things. Africa
2. One of the key impact/effects of the European colonial rule in Africa was the integration of African economies into a global capitalist economy. Drawing from your textbook and discussions, explore the transformations of the African economy during the colonial rule. Be sure to discuss such sectors as agriculture, transportation, mining and labor. The systematic expansion of the Europeans which involves the control of territory and people across the world is what is known as “colonialism”.
By the early twentieth century, however, much of Africa, except Ethiopia and Liberia, had been colonized by European powers. The European imperialist push into Africa was motivated by three main factors, economic, political, and social. It developed in the nineteenth century following the collapse of the profitability of the slave trade, its abolition and suppression, as well as the expansion of the European capitalist Industrial Revolution. The imperatives of capitalist industrialization—including the demand for assured sources of raw materials, the search for guaranteed markets and profitable investment outlets—spurred the European scramble and the partition and eventual conquest of Africa. Thus the primary motivation for European intrusion was economic.
In 1884 Europeans met to decide the future of Africa. Africa 's economy was greatly affected and the economic culture there still feels the effects. Africa 's economic culture largely supports other nations economies and damages their own. The production, working, and economic cultures of today are direct consequences of the Industrial and Imperialistic eras. Today 's production process, is setup as a division of
A logit regression model was used to check the probability that foreign subsidiaries would adopt capital budgeting strategies which are thought of as sophisticated given the firm specific and company specific factors. It is observed by the authors that capital budgeting process for the multinational enterprises involves many factors which are rarely encountered by domestic firms engaged in capital budgeting. It was determined that ownership arrangement and financial leverage were significant factors related to application of sophisticated capital budgeting techniques. Other significant points determined by the author was that the age of the firm, size of the assets and publicly traded securities were positively related to the sources used to determine discount rates. The authors suggested that more emphasis should be placed and more research should be done on the entire capital budgeting process to come up with thorough understanding on the relation among different variables and sophistication of the capital budgeting