... powers and the settler colonies, in North America, Australia and New Zealand for example. The term "third world" refers to the less developed countries with people of mostly non-European descent. The Economic Effects of Colonialism Economic conditions play a large role in the way in which different societies interact with each other. The changes in the distribution of resources, in production and in trade which colonialism brought about shape world relations today. The capitalist system An important element of any economic system is surplus. There is a surplus if a society produces more than its basic needs. In some pre-colonial societies the community produced no surplus - people produced enough for their subsistence and then used their time for leisure (Bujra, 1992, p.152). In some kingdom systems, people were obliged to produce more than they needed and give the surplus to the provincial ruler. In some cases, this surplus was used simply to enhance ...

See this essay or coursework document in full right now