Econ9.1.10

Econ9.1.10 - Ch 3 and Ch 4 Development in Historical...

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Ch. 3 and Ch. 4 Development in Historical Perspective Colonialism: key concern was that colonizers only cared about people at home. This had some lasting effects 1.Lasting effects a.Path dependence: historically formed institutions don’t change rapidly b.Plundering by foreigners c.Severe demographic crises d.Creation of a new economic role for African chieftains 2.Forms of European colonies a.absolute depredation (Spain 1500-1700) b.Merchant Capital(Dutch System, 1600s, 1700s) Max agricultural yields (production) and slave labor c.Industrial capital (British rule in India) agricultural production, cotton not free trade profitable colonies->financial inflows into the UK->interest rates come down, facilitates investment 3.Industrialization 1.De-industrialization: ex.UK imports cotton from India at 0% tariff rate, levies very high tariffs on India textiles, forces India to have very low tariffs on textile imports 2.Industrialization 4.Measuring the impact of colonization Colonialism seems to be harmful. Some benefits of colonialism as well: research in the
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This note was uploaded on 04/06/2011 for the course ECON 343 taught by Professor Miyao during the Fall '08 term at USC.

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Econ9.1.10 - Ch 3 and Ch 4 Development in Historical...

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