19th Century Imperialism In The 21st Century

Defining the Principal Differences between 19th-century Imperialism and 21st-century Globalization

This globalization study will define the principle economic factors of colonization of 19th century imperialism in the contrast to the advanced modes of capitalist enterprise in the globalization process of the 21st century. In the 19th century, the role of imperialism was based primarily on the colonization of smaller nations by a more powerful state, which relied heavily on the funding of monarchical governments that controlled global trade through the combined role of the military and the royal crown. The economic system of colonization sought to dominate conquered countries and transform them into colonies to exploit the natural resources …show more content…
In this manner, the nation-state, such as Great Britain or the United States, does not wield direct power over the terms of trade within the capitalist system. In 19th century England, the East India Company was a “corporation” the was owned by the royal crown, yet in the 21st century, the corporation is a private sector institutions that is not managed by the government. In this manner, the role of “capital” defines the financial and economic power of private corporations to dictate the terms of trade agreements, yet within the context of global trade organizations, such as the World Trade Organization. Traditionally, the 20th century nation-states sought to regulate private corporations through governmental regulations, yet the increasing power of the private sector (privatization) dominates the terms of global trade and economic regulations:
Structural adjustment and privatization have been the key strategies to promote globalization of capitalism and surplus accumulation of capital. Consequently, the welfare state has been dismantled in favor of corporate globalization, with massive displacement effects for labor and the peasantry all over the world (Farazmand …show more content…
19th century imperialism was often managed through the context of colonialism, which represented a form of monarchical state control over military conquest and economic control through monarchical corporations. In this context, global trade was dominated by nations,m such as Great Britain, which utilized the royal crown’s corporate entities, such as the East India Company, to conquer, colonize, and control global trade. In contrast to this method, the rise of capitalist enterprise saw the privatization of global trade through transnational cop-orations and global trade institutions that devolved the power of the state to interfere in trade agreement around the world. The privatization of trade has removed the power of the nation state, such as England, from defining the rules and terms of trade in the globalization process. Therefore, it is the presence of a capitalist economy in the 21st century, which defines the difference of private sector corporate actors that dominate global trade over that of the nation state. The differing factors of colonialism and capitalist are the major sources of global trade and economic control that define the globalization process over a span of two-hundred and fifty