Question

Explain why many world powers developed extractive economies during the 1800’s and why this was less important for the United States.

Answer 1

Many economies from Europe and other areas  like Japan which were very powerful during the 1800s and 1900s. As a consequence of this, these nations  were competing to extend and dominate other regions around the world. Imperialism was growing very rapidly at that time.

Europeans nations in particular, were adding new colonies from Africa and Asia to the ones they already had established in the exploration age. Japan and the United States, were also contemplating the benefits of imperialism.

All these powerful countries could now  get all kinds of products and raw materials from the new acquired colonies, and that is why they were called extraction economies.

Contrary to these nations, the United States did not have a shortage of raw material, so it was not that important to them. In fact, the U.S. was producing a grater amount of goods than they could consume. There was not any need to get colonies for the sole purpose of extract their products and raw materials.