Question

. Write an essay in which you discuss the role of colonialism (a) in the emergence and development of industrial capitalism in Europe and (b) in the development of underdevelopment in the colonies. Make sure you discuss the interrelations between these two. 2. Write an essay in which you analyze the factors in the emergence and development of industrial capitalism in Western Europe. What are the implications of this analysis for the development quest of underdeveloped countries today, if any?

Answer 1

Industrial capitalism is a mode of production, which consisting of large govenment controlled accumulation of capital, which is used as a means of production. Even focusing on the large scale production, private ownership is limited.  

There is a saying that economic freedom, provides political freedom. If the means of production of an economy vested in the hands of the governement, the state will become more powerful.  

Industrialism influenced the European society in large scale. It created new job opportunities. The introduction of machineries helped to increase production speed. It also resulted urbanization, and the Western Europe converted from rural and agricultural background, to urban and industrial background.  

At the same time indstrialism had a considerable amount of negative effects on society. Industrialization resulted overpopulated cities, which created lot of helath problems, because of the dirty and unhygeinic colony backgrounds. There were no sanitation codes in cities which affected the people's health conditions very badly.  

Capitalism, as an economic system emerged in Europe during this time. It helped a small group of people to make a lot of money and became rich. The became capitalists and began to dominate other people who belonged to economically backwarde conomic regions.  

The finacial effects of the transatlantic slave trade was emerging. By the middle of the 18th century, all over Britain, had some connection with slave trade. Colonial rule established every where.

Inshort the accumulation of wealth or capital of Britain which resulted Industrial  growth was made on the back of the slave trade. That is capitalism is the system which allowed rich to become more rich. It only lead to a small upper class of people having the most wealth and the growth of large corporations. By the end of the 1698 it even became legal for the merchants to trade ensalved africans as a fundamental and natural right. All these affected the life of the people of underdeveloped countries to become more worst.