ANT204H1 Chapter Notes -Uptodate, Pax Britannica, Industrial Revolution
Document Summary
No mention of words such as exploitation, expropriation or forced labour. American empire replaced the british empire as the leading imperialist power. Empire: domination of one power over another. Concerned with tribute or plunder of wealth. Central characteristic of modern imperialism is its emphasis on a different kind of plunder --> the pillage of other countries" wealth through unequal trade and through investment which draws out far more wealth than it puts in. Conditions which allowed the british to develop a profitable system. The new technology of the industrial revolution. Contradiction: the capacity to expand production faster than the market can absorb it. This is due to the fact that employers take a cut of profits, wages do not match the value of what is produced and there is never sufficient funds to purchase all that is produced. Decisive market factor is consumption by individuals. The availability of an abundant supply of cheap labour.
