History of Africa

These flashcards cover key vocabulary and concepts from the history of Africa, focusing on economic systems such as mercantilism, monopoly capitalism, and neo-colonialism.

Mercantilism

An economic theory where the shipping economy serves a mother country, focusing on maximizing exports and minimizing imports.

Industrial Revolution

A period marked by the construction of commodities that multiplied sources and surplus values of mercantile economy production.

Monopoly Capitalism

The elimination of global competition through the consolidation of entire markets under a small ruling class.

Neo-colonialism

The use of global corporations to commodify both people and the natural world, resulting in economic dependence on Europe.

Commodities

Goods that are produced for commercial sale, which can become more valuable when combined.

Economic Dependency

A state where a country relies heavily on another for financial support or resources, often resulting from neo-colonial practices.

Haitian Sugar Plantations

Highly productive sugar farms in Haiti where the French profited heavily by taxing sugar exports.

Global Competition

The rivalry among businesses to gain dominance in the marketplace on a worldwide scale.