Tuesday, November 20, 2012

Imperialism

This cartoon suggests that the rich countries such as the United States and Europe take from Africa.  Is this true?

One one thing, unless it is oil, most of Africa's products are produced in perfectly competitive markets where the prices can be driven down to nothing.  If the cartoonist was referring to trade exploitation, then the taking of resources from Africa must happen for direct foreign investment.

This is a complex topic that I will return to later.


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