- Emergence of Europe’s drive to capital accumulation, 1500
- Led to the colonization of Latin American, Caribbean, African and East Asian States.
- The Extraction of Wealth (Natural Resources and Capital) from the colonies resulting in stagnation
- Subsequent transfer wealth to the Europe facilitating industrialization and development (Walter Rodney: How Europe Underdeveloped Africa)
- The persistent of culture of dependency even after colonialism. Third World-Producers/ First World Manufacturers