Those who are well acquainted with European history are well aware of the fact that the whole of
Free labour of African slaves were not limited to the plantations and the
While African slaves were busy working on the plantations, Europeans now had more than enough time to devote to thinking and development of better machines for production. The result was the industrial revolution which led to the discovery of the steam engine (1769); spinning jenny (1770); the Arkwright water frame (1771); the puddling process for making wrought iron (1784); the power loom (1785); the cotton gin (1793); interchangeable parts (1798); improved soil tillage and improved breeds (of livestocks (around 1800); the steamboat (1807); the water mill for powering factories (1813); the three-piece iron plaw (1814) e.t.c. Because of the agricultural revolution, large fluctuations in harvest diminished, and with the exception of
Robert Solow, the MIT economist, won a Nobel prize for his formulation of the neoclassical theory of growth, which stressed the importance of savings and capital formation for economic development, and for empirical measures of sources of growth. If the Europeans had paid millions of African slaves that worked for them for centuries absolutely for free, it’s obvious that they would not have been able to save so much to invest in other sectors of their respective economies. If the Europeans had paid the market price for the mineral resources that they shipped away from
Africa’s vast mineral resources, which are not available in
WHAT WAS THE REAL CAUSE OF THE SECOND WORLD WAR?
We are yet to be told the real cause of the first and second world wars respectively in
It’s worth noting that
WAS
In history classes and text-books, Africans were told over and over, and are still being told that the American revolution war which broke out in 1775 and lasted till 1783 was about freedom from
Having taken the decision to snatch
Perhaps, the knowledge of this historical fact prompted Muhammad Ali, the legendary Afro-American boxer, to refuse taking part in the Vietnam war. Ali strongly believed that since
For decades, all efforts by African governments to get the
Why did the
The purpose of this analysis is to explain explicitly the following:
1. To remind us that under normal circumstances, resources are never free and have their opportunity costs;
2. Resources can only be free without any opportunity cost only in legalised robbery, which could be in form of slavery or colonialism;
3. The One
4. The south, in actual fact, is a colony of the north!
More explanation is needed to explain points 3 and 4.