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Colonialism's core meaning is the exploitation of the valuable assets and supplies of the nation that was conquered and the conquering nation then gaining the benefits from the spoils of the war. [139]: 170–75 The meaning of imperialism is to create an empire, by conquering the other state's lands and therefore increasing its own dominance ...
Mercantilism was the basic policy imposed by Britain on its colonies from the 1660s, which meant that the government became a partner with merchants based in England to increase political power and private wealth. This was done to the exclusion of other empires and even other merchants in its own colonies.
These plantations played a large role in developing the Northern economy in opposing lines from the plantation-based economy of the American South. Compared to the large-scale cash crop plantations which underpinned the Southern economy, plantations in New England were small-scale, and meant mainly for subsistence purposes rather than profit ...
A number of modern economic historians have blamed the colonial rule for the state of India's economy, with investment in Indian industries limited since it was a colony. [21] Under British rule, India experienced deindustrialization .
The influx of precious metals to the Spanish monarchy's coffers allowed it to finance costly religious wars in Europe which ultimately proved its economic undoing: the supply of metals was not infinite and the large inflow caused inflation and debt, and subsequently affected the rest of Europe.
A dual economy is the existence of two separate economic sectors within one country, divided by different levels of development, technology, and different patterns of demand. The concept was originally created by Julius Herman Boeke to describe the coexistence of modern and traditional economic sectors in a colonial economy.
This type of indirect rule eventually fell out of favour in the English colonial empire due to a variety of reasons, including the gradual sociopolitical stabilisation of England's American colonies, the easing of bureaucratic difficulties in managing the colonies and increasing economic or administrative difficulties faced by proprietors.
A map of British India in 1909. The Great Depression in India was a period of economic depression in the Indian subcontinent, then under British colonial rule.Beginning in 1929 in the United States, the Great Depression soon began to spread to countries around the globe.