During the last 500 years there have been two major waves of colonialism in three areas: Latin America, and then South Asia (India) and Africa. A combination of two of your framing questions ask: What are the costs and benefits of various political structures; how does economic development hinge upon the oppression of some; and how do economic systems develop globally? FOCUS ON: How has colonialism affected global economic changes? Make sure that you address both the costs and benefits of the economic changes. Your essay MUST have an introductory paragraph and a concluding paragraph (that includes the significance of your answer) You can break it down in the following way: How did colonialism (in Latin America) affect economic developments in the first period, 1500-1750? How did colonialism (in Latin America, India, and the first three decades of African colonialism), from the 16th through 19th century, affect economic development in the second period, 1750-1914? How has colonialism from the 16th through 20th centuries (Latin America, India, Africa) affected how the global economy has developed in the late 20th and especially early 21st centuries?