"Over the last few decades of colonialism, colonial possessions served capitalism as a safety valve in times of crisis. The first major occasion when this was displayed was during the great economic depression of 1929–34. During that period, was increased in Africa and the prices paid to Africans for their crops were reduced. Workers were paid less and imported goods cost a great deal more. That was a time when workers in the metropolitan countries also suffered terribly; but the colonialists did the best they could to transfer the burdens of the depression away from Europe and on to the colonies."

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Added on April 10, 2026
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Original Language: English