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As a result life standard of local people became low and many people died due diseases. Due to British colonization in Australia, Aboriginal population dropped by as much as half a million (Burgman and Lee 1988).
According to Frank (1978, p.23), the regions that were resourceful in the pre-colonial era, became the ?ultra-underdeveloped' in the new world...
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For example, India was relatively advanced country in terms of its socio-economic structure. After the battle of Plassey in 1957, Britain starts get control over much of India and by the end of 1815 an estimated wealth of ?500 to ?1000 million was transferred to Britain which was very crucial to the development of British Industrial Capitalism...
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