Colonialism Inequality and Long-Run Paths of Development--student

Colonialism Inequality and Long-Run Paths of Development--student

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Colonialism, Inequality, and Long- Run Paths of Development Engerman and Sokoloff
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Was Colonialism Good or Bad? The traditional answer is that colonialism hurt the colonized areas. Some new research suggests that colonization was not that bad http://www.youtube.com/watch?v=Qc7HmhrgTuQ “Colonialism, Inequality, and Long-Run Paths of Development” doesn’t really seek to judge whether colonialism was good or bad, but rather investigates to what matters for long-run economic growth.
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Initial Question Why was it that for at 250 years after the Europeans arrived to colonize the so-called New World, most observers regarded the settlements on the northern part of the North American continent as relative backwaters with limited economic prospects, and that the flows of resources to the Americas mirrored that view?
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Simple Initial Answer The simple answer is that per capita incomes, especially for those of European descent, were higher in at least parts of the Caribbean and South America than they were in the colonies that were to become the United States and Canada well into the late-18th and early 19th centuries.
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The Real Puzzle Looking back from the vantage point of the early twenty- first century, however, it is clear that the real puzzle is why the colonies that were the choices of the first Europeans to settle in the Americas, were those that fell behind -- and conversely, why the societies populated by those who came later and had to settle for areas considered less favorable have proved more successful economically over the long run.
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Basic Question Why did some former colonies have rapid economic growth, while other former colonies have languished? Traditional Answer: the success of the North American economies is because of – the superiority of English institutional heritage and/or – the better fit of Protestant beliefs with market institutions
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Problems with the Traditional Answer British colonies in the New World evolved quite distinct
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Colonialism Inequality and Long-Run Paths of Development--student

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