Comments by "" (@craigkdillon) on "How History Works" channel.

Not profitable? Are you nuts? Do you know your history?? The Spanish Empire was EXTREMELY profitable. The amount of gold and silver taken from the New World devalued gold and silver in Europe for centuries. The sugar plantations in the Caribbean were very profitable for England and France. The spice islands were VERY profitable for the Dutch. Now, the established colonial possessions in the 19th century lost their profitability as the world economy changed due to the industrial revolution. The industrial revolution reduced the value of raw materials in favor of machined or processed goods. It also increased the importance and economic impact of banks. Banks only became the world financial powers they are during the late 19th Century. Banks were much more powerful in 1900 than they were in 1800. So, by 1900 colonial possessions were more for ego than profit.
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