How would you describe the colonial economy?

Answer 1

Colonial economy was about all activities that ensured continued supply of raw materials and profit gaining from the colonies mushrooming industries. Colonial economy involved agriculture, mining, trade, infrastructures, fishing and transport. To maximize the profit and to be ensured that they succeed their mission in agriculture, colonialist introduced new things to improve the production. These include settler economy, plantation economy, peasant economy, migrant labour and cash crop production. They decided to maintain peasant to get more profit. They introduced cash crops because raw materials were need in their industries. Cash crops introduced were sisal, rubber, coffee, tea and cotton. To ensure continued supply of raw material to their mushrooming industries in Europe, they opened plantations and estates in Zanzibar and some parts in Tanganyika. The grown cash crops included sisal, clove plantation, coconuts and cashewnuts. Settler economy was rampant in all areas where the soil was fertile and good climate to stay. They established settlements in in Kenya, Zimbabwe, Zambia and South Africa. Also in East Africa they settled in highland regions like Kilimanjaro, Iringa and Mbeya. They established infrastructures from the port to the interior where agriculture and mining activities were taking place. The building of Mombasa to Uganda railway and Dar es Salaam to Kigoma is a good example. In South African they exploited gold and diamond from Kimberley and Transvaal. Irrigation activities took place along the Nile River. Money economy was introduced to maximize profit and also to utilize effectively migrant labour who were selling their labour forces in plantations and estates. Taxation and land alienation was introduced to exploit African and the same time to force them comply with colonialists needs. In order to get money African were supported to sell their work forced in plantations and estates. Migrant labour was preferred because of less resistance. Migrant labour were taken from far away and they were very few in number hence it rendered them very difficult to organize themselves and form strikes.

Answer 2

Colonial economy is defined as an economy of goods exported and imported into a colonial area. Colonial economy is made up of both the foreign commerce and the local economy.

Answer 3

As rudimentary as they were, these records were important because the colonial economy was largely a barter and credit system

Answer 4

Colonial economy refers to the economy that was established by the colonial masters in their colonies.

Answer 5

Colonial Economy is the economic system made by the British to dominate the African colony