Abstract
The presence of finance capital in colonial West Africa was predicated on the presence of imperial administration and merchant capital. From these it derived its profits. Cowen and Shenton suggested finance capital was seeking to diversify its sources of profit by engaging cocoa farmers in credit. While this may have been true for the period of cocoa boom before the First World War, it is argued in this piece that in 1938‐more than 20 years later ‐ the banks’ motivation was entirely defensive. No diversification was intended, and the action was directed at salvaging current business. This comment does not question Cowen and Shenton's ‘Fabianism’ thesis but substitutes merchant for finance capital as being in conflict with Colonial Office attitudes.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
