Dependence accumulation and underdevelopment

Author: (German) Frank
Publisher:
Publish Date: 1999-12-01
Features: The discovery of the Americas, the circumnavigation of Africa, opened up new areas of activity for the emerging bourgeoisie. The markets of East India and China, the colonization of the Americas, trade with colonies, the increase in means of exchange and general goods, led to a boom in commerce, navigation, and industry, thus rapidly developing the revolutionary factors within the collapsing feudal society. The establishment of the world market by the large industry was prepared by the discovery of the Americas. The world market brought about great development in commerce, navigation, and land transportation. This development, in turn, promoted the expansion of industry, while the expansion of industry, at the same time, promoted the expansion of industry, commerce, navigation, and railways.