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Economists often speculate that the failed to develop because of a lack of capital. But there was no such lack. The wealth that might have provided the capital for development was effectively stolen by Europe and harnessed to the service of Europe's own development. The global South could theoretically have developed as Europe did were it not for the plunder of its resources and labour, and were it not for the fact that it was forced by Europe to supply raw materials while importing manufactured goods. Whether or not they would or should have done so is another matter, of course - after all, much of European-style development required violence towards other lands and other peoples. But the point remains: it is impossible to examine the economic growth of the West without looking at the base on which it drew. (en) |
