Question

How did colonialism affect Latin America’s future development outcomes? Describe some of the main products extracted during the colonial period and some of the institutions affecting the factors of production. Discuss two institutions and how they affected future inequality and growth patterns in the region or a country of your choice.

Answer 1

Most of the Latin America was colonized by the Spain Portugal and France had major influence on it. Native population was decimated because of war and disease. There was conquest and colonization of the Latin America. important changes to the society of Latin America was brought. the lands which were conquered were distributed among the soldiers. The native Americans were used by the conquerors for farming the land and working in the mines. Brazil became a separate monarchy apart from Portugal. The presence of Spanish colonial in America was ended by the spanish-american war. The independence of politics had resulted in instability in political and economic terms. There are negative impacts as well. they include natural resources being degraded capitalist degradation of urbanization foreign diseases introduction to the humans and the livestock. Social system are changed. Social and economic system phase positive impact of the colonialism. Colonialism which included exploitation by conquering a country involved exploiting the country's population as labour and natural resources as raw materials. The colonialism is believed primarily for extraction of gold and glory and also God. God because the missionaries felt that their moral duty was spreading Christianity. Gold because they could exploit the resources. Some factors included wealth that is gold or silver freedom on religious ground mercantilism from the trade and land and also fishing trade expansion.