C. COLONIALISM AND NEOLIBERALISM
This chapter notes are divided into three parts, this is third part which covers colonialism & neoliberalism ,kindly go through blog section of the website and check other parts.
Introduction
Colonialism and decolonization have been pivotal in global history, shaping social, political, and economic landscapes.
Colonialism, driven by industrialism, led to the exploitation of territories for raw materials and markets, creating unequal power dynamics.
Decolonization, a process of colonies gaining independence, was influenced by nationalist movements and global events like World War II.
Forms and Characteristics of Colonialism
Colonialism involves one entity controlling distant areas for profit or power, creating unequal relationships.
Types include exploitative, settler, surrogate, internal, and neo-colonialism, each with distinct impacts.
Features of colonialism include economic exploitation, political domination, and the portrayal of indigenous people as inferior.
Decolonization: Context and Meaning
Decolonization refers to the process where colonial powers withdrew from occupied territories.
It began in the latter 20th century, with governments in Asia, Africa, and South America gaining independence from Western powers.
Decolonization was a complex process influenced by nationalist movements, global events, and the right to self-determination.
Implications of Colonialism and Decolonization
Colonialism disrupted economies and societies, leading to challenges in post-colonial state-building.
Decolonization brought political autonomy but also challenges like border disputes and communal tensions.
Despite challenges, decolonization led to the introduction of modern education and infrastructure in many colonies.
Keynesian Economics: A Simplified Overview
Developed by John Maynard Keynes in response to the Great Depression, Keynesian economics focuses on managing demand to stabilize economic fluctuations.
It emphasizes government intervention, particularly through fiscal policy, to stimulate demand and maintain full employment.
Keynesian economics influenced policies such as the New Deal in the United States and became dominant in the post-World War II era.
Conclusion
Colonialism and decolonization have shaped global history, influencing economies, societies, and political systems.
The legacy of colonialism persists in post-colonial challenges such as border disputes and economic underdevelopment.
Keynesian economics, developed during the Great Depression, emphasized government intervention to stabilize economies and maintain full employment.