What is the connection between the "new imperialism" of the late nineteenth century and the causes of world war i?

1 answer:

4 0

With the exception of Austria-Hungary, new imperialism was entrenched in the policies of all the European powers. This frenzy to acquire colonies was due to the potential financial and psychological benefits that colonies provide. Financially speaking, the colonies can help European nation’s name economy by firstly providing the raw materials necessary for industrialization which were lacking in continental Europe. Secondly, after using the raw materials to produce the merchandise, the colonies provided a market where the European nations can sell their manufactured goods. Hence, new colonies can begin an exploitive cycle where the European nations take resources from their colonial subjects then profits exportation of completed goods

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How do the roles of government as defined by Adam smith support a country’s economic interest

MAVERICK [17]

<u>The roles of government as defined by Adam smith support a country’s economic interest as follows:</u>

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He was in favor of a free economy and the idea of people having the required amount of freedom to make economic decisions. He meant that by doing so there will be economic prosperity, which remains as the main idea which supports free economy.

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