Principles of Capitalism
What is Capitalism?
Capitalism is an economic system where private individuals and companies own businesses and property, with the main goal of making a profit.
What were technological advances during this time?
Technological advances included inventions like the steam engine, textile machines, and railroads.
What is imperialism?
Imperialism is when powerful nations take control of other countries to exploit their resources and markets.
What was a political impact on colonized regions?
Colonized regions often lost independence and self-government, with borders drawn by colonial powers.
What is armed resistance?
Armed resistance refers to communities fighting back militarily against colonizers.
What is private property?
Private property refers to the right of individuals and businesses to own land, factories, and resources to make money.
What is a new business model created during this time?
Joint-stock companies allowed multiple investors to pool their money for large projects.
What is settler colonialism?
Settler colonialism is when people from a colonizing country move permanently to the colonized land, often displacing Indigenous populations.
What was an economic impact on colonized regions?
Traditional economies were destroyed, and resources were extracted for the benefit of imperial nations.
What is cultural preservation?
Cultural preservation involves maintaining languages, religions, and traditions despite colonial pressures.
What is the profit motive?
The profit motive is the desire to earn money that drives people to start businesses and create new products.
How did competition lead to efficiency improvements?
Competition forced businesses to find faster, cheaper ways to produce goods, leading to methods like assembly lines.
How did capitalism connect to imperialism?
Capitalist nations needed raw materials, new markets, and cheap labor to keep growing, which imperialism provided.
What was a social impact on colonized regions?
Indigenous populations faced violence, disease, and disruption of their traditional ways of life.
What are political movements?
Political movements are organized efforts demanding independence, self-rule, or equal rights.
What is the free market?
A free market is an economic system where buyers and sellers can trade freely with limited government control.
How did capitalism create wealth for some?
Successful business owners and investors became wealthy, creating a new middle class.
How did settler colonialism affect Indigenous populations?
Indigenous populations were often displaced or eliminated by colonizers.
What was a cultural impact on colonized regions?
Traditional religions, languages, and customs were suppressed, while Western education systems were imposed.
What are economic boycotts?
Economic boycotts are when communities refuse to buy goods from colonizers.
What is capital investment?
Capital investment is when people invest money into businesses, hoping to earn more money back.
What was the uneven distribution of wealth?
While some prospered, factory workers and colonized populations often remained poor despite their contributions.
How did imperialism disrupt traditional economies?
Traditional economies were destroyed, forcing people to grow cash crops instead of food.
What is the impact of racism on imperial powers?
Racist ideologies developed to justify colonialism, creating social hierarchies based on race
Why did resistance matter?
Resistance preserved cultural identity and inspired future generations, planting seeds for independence movements.