Question

Reasons behind European colonialism and lasting effects it left (tied with the capitalist market system)

Answer 1

Colonialism is a political-economic fact whereby different nations discovered, conquered, settled, and exploited large zones of the world. The term is originated from the Latin word colere, which means to "to inhabit". Generally, colonialism happens when people from one terrain establish or acquire, maintain, and develop colonies in another region.
The important driving factors of colonialism are:-
1)Industrial Revolution
2)Social Darwinism
3)Decline of Mercantilism
4)Technological Advancements
5)Population Pressure
6)Surplus Capital
7)Political and Military factors
8)National honour and prestige
9)Role of Christian missionaries
Colonialism led to a considerable outflow of financial resources.

impacts of colonialism in the economic sphere
The Economic Impact of Colonialism:
The main urgings for economic impact of colonialism are the 'drain of wealth,' expropriation (mainly of land), the control over production and trade, the exploitation of natural resources, and the improvement of infrastructure.