hw #13 - gold standard were put in place which still...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
James Fisk UGC112 Laticia McNaughton 4/25/11 Economic global inequality started when European powers began to colonize the rest of the world, exploiting recourses, human and natural, to fuel the industrial revolution and a new economic system called capitalism. The Americas, Asia, Africa, all were picked apart by Europe. This continued for quite some time. Many wars were fought over these lands and their valuable resources, all in the name of capitalism and the quest for more money and more power. Eventually Europeans powers stopped their need for colonies and left the lands which they had taken control of. Africa, Asia and South America were left on their own as self controlling countries. But while the physical presence of European control was ended, the global economy still had great impacts on these countries. Things such as structural adjustment and a
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: gold standard were put in place which still allowed foreign countries with wealth to exploit the weaker countries. Private companies would create businesses in the low tax and weakly governed nations and still exploit the land and people. Cheap wages and even cheaper raw materials were and still are being taken from the weaker nations. Eventually wars will be fought and are currently being fought over what these nations have to offer the global economy. But instead of a fair trade the rich take all the benefit while the lesser nations grow even weaker. After all this, the gap between rich and poor, at a global level is growing. The strong are exploiting the weak in the name of capitalism....
View Full Document

This note was uploaded on 11/18/2011 for the course UGC 112 taught by Professor Barry during the Spring '08 term at SUNY Buffalo.

Ask a homework question - tutors are online