Jump to ContentJump to Main Navigation
Catch UpDeveloping Countries in the World Economy$
Users without a subscription are not able to see the full content.

Deepak Nayyar

Print publication date: 2013

Print ISBN-13: 9780199652983

Published to Oxford Scholarship Online: January 2014

DOI: 10.1093/acprof:oso/9780199652983.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see www.oxfordscholarship.com/page/privacy-policy).date: 21 March 2019

Underlying Questions and Answers

Underlying Questions and Answers

Chapter:
(p.33) 3 Underlying Questions and Answers
Source:
Catch Up
Author(s):

Deepak Nayyar

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199652983.003.0003

The developments in Europe circa 1500 that exercised a profound influence on the shape of things to come in the world economy were the voyages of discovery and the colonization of the Americas. Social, political and institutional change created the initial conditions for capitalist development. Even so, in the mid-eighteenth century, the similarities between Europe and Asia were far more significant than the differences. Indeed, demography, technology and institutions were broadly comparable. There was a wide range of factors underlying the occurrence of the Industrial Revolution in Britain. Industrialization, which spread to Europe, yielded sharp increases in productivity, output and incomes. It also led to the demise of traditional industries in Asia, particularly China and India, which reduced their skill levels and technological capabilities over time. This process was reinforced by the politics of imperialism that imposed free trade to hasten the process of de-industrialization in Asia with a devastating impact on China and India.

Keywords:   Colonization, imperialism, Industrial Revolution, capitalism, Britain, China, India, culture, geography, institutions

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .