The Between Neocolonialism And Classical Colonialism

1811 Words8 Pages
Colonialism is often regarded as one of the greatest atrocities committed by mankind. Throughout history, civilizations have been exploited and oppressed primarily by European settlers that took advantage of indigenous people’s labor and extracted resources from the land. Indigenous people were often treated as slaves by colonizers that profited from the resources that they produced and injected into the global economy. Many regard colonialism as a historical event that human kind has ascended from, however, it still exists in modified and very similar ways in the present. This phenomenon is often referred to as neocolonialism. I will examine the properties of both neocolonialism and classical colonialism by observing their similarities and differences regarding monetary economics and developmental economics and examine the social impact of these perceptions.
Despite the monetary systems of classical colonialism being much less complex than those of neocolonialism and post-colonialism, the monetary aspects of classical colonialism are a completely separate category of discrimination upon the disadvantaged. Indigenous tribes often had their own unique methods of accounting and organizing transactions. These methods were sufficient in determining tribal obligations (Goswami, 1984, p. 56-60). During the colonial period in Africa, “Colonial governments established uniform monetary systems and abolished pre-existing currencies, usually without compensation” (Manning, 1974, p.

More about The Between Neocolonialism And Classical Colonialism

Get Access