Omolara Adebimpe Adekanbi Universidad Autónoma de Ciudad Juárez, Mexico

Аннотация

This paper examines the historical and contemporary impacts of capitalism, colonialism, and economic paradigms on global inequality and poverty. It highlights how the wealth of powerful nations, such as those in Europe, has been built on exploitation through colonialism, slavery, and resource extraction. The industrial revolution, fueled by capitalism, brought about economic growth in these regions but also led to severe environmental degradation and human suffering. The paper critiques modern economic paradigms that fail to account for these historical injustices, presenting a misleading roadmap for developing countries. It explores the unequal distribution of wealth, the role of multinational corporations, and the persistence of neocolonial practices. Furthermore, the study connects poverty and inequality to violence, migration, and restricted access to healthcare, particularly in marginalized regions. The conclusion asserts that economic growth models for poorer nations overlook the foundational violence and exploitation that enabled the wealth of the West, calling for a more honest reckoning with history in shaping global economic policies. KEYWORDS Capitalism, Colonialism, Economic Inequality, Neocolonialism, Economic Paradigms. JEL Classification: B59, D63, F54, P10, N40, O10