How did colonialism affect the industrial economy?

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mkoren | Middle School Teacher | (Level 3) Senior Educator

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Colonialism had a big impact for an industrialized country. One of the reasons why industrialized countries were interested in having colonies was so their industries would profit from the colonial relationship. Industrialized countries needed resources. The colonies often could provide the resources much cheaper than if the industrialized country had to buy them elsewhere. This helped to keep costs lower for the industries. Plus, once the products were made, the industries could sell the finished products back to the colonies and make a profit.  Having colonies was similar to having a guaranteed market for the finished products. Finally, by having colonies, the industrialized countries would have a place for their merchant ships and warships to stop and dock. These ships could refuel and get needed supplies while they were in the ports of their colonies. There were many reasons why industrialized countries wanted colonies.

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