Thanks Michael. Yes, the impact of capital exports to colonized countries was obviously very different. Though in calling the US a "developed " economy between 1865 and 1915, let's say that it certainly was at the end of that period, but sharecropping in the South, and the scale of the Populists revolt as late as 1896 indicates that the country still had vast areas and large populations in agriculture. Buy it was the largest recipient of both credit and direct investment and had William Jennings Bryan won that election and pulled the largest debtor nation off the gold standard, the subsequent history of world capitalism would have been very different.
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