Socialist Perspectives on Economic Change in Colonial India: M.N. Roy and Rajni Palme Dutt

Global expansion of western countries can be divided into pre-capitalist and capitalist epochs. The former marked the import of goods and export of bullion in order to purchase goods for the growing demand in the home market, whereas the latter marked the export of goods and capital, at an advanced stage, to the colonised lands. It must be kept in mind that all colonies did not become subject to capitalist imperialism.