INNOVATION TECHNOLOGY AND ENTERPRENEURSHIP .

NAME: AKPOROGE OGAGA OSBORN DEPARTMENT: MASTER IN MANAGEMENT (RESEARCH) STUDENT ID: 60388211091

INTRODUCTION The developed Western Capitalistic Countries used capitalistic system of economic to en-rich and rule the world .The capitalistic system of economic is based on radicalism, pursuit of profit and private ownership of means of production. The developed Western Capitalistic Countries are known as early advanced or developed countries that rules and controlled the rest of the world due to their advancement. The developed Western Capitalistic Countries is refer to as the west and this may be restricted to the Americas, Western Europe (including Greece), Australia and New Zealand and sometime; Israel.

HOW THE WEST GREW RICH AND RULE Life in the west (Developed Western Capitalistic Countries) was hard in the eras of misery. Greater majority of people lived in abysmal Squalor. And there was need for morning from poverty to wealth, well-being and Improvement in social and economic lives for if mass. And this brought about the Western Capitalistic Countries introducing Capitalism and this was practiced in Western Europe. The developed Western Capitalistic Countries re-organize the world to reflect their understanding of reality and want the rest of the world to think and live as they do. And this Western Capitalistic Countries strategies their commitment in re-fashioning the world, so that they can dominate and change the world totally. The Western Capitalistic Countries hold same peculiar objectives and made it their duty, responsibility to re-organize the developing countries to live by their understanding they hold. These western capitalistic countries made the developing countries to lose their sense to identity, self-worth, their indigenous status and their prestige system brokendown, brutality .despotism and corruption escalated, in these countries/communities. The Western Capitalistic Countries expanded their political authority through the establishment of protectorate and colonies, as to en-rich themselves and rule the rest of the world.

REASONS WHY THE WESTERN CAPITALISTIC COUNTRIES GREW RICH AND RULE There are many reasons why the Western Capitalistic Countries grew rich and rule but it will be wrong to say that the western capitalistic countries grew rich and rule as a result of innovation only. Although innovation is every important for any country to be developed .innovation is said to be the major driver of countries economy. My views of why the Western Capitalistic Countries grew rich and rule are of many views and which innovation is an important factor/reason why the west dominated. Definition of Capitalism; This is an economic system that the western capitalistic countries used to enrich themselves, meaning; a private ownership of means of production. If is form of economic that involves the pursuit of profit and returns on investments by means of continuous, rational and capitalistic enterprise. The developed western capitalistic countries used capitalism system of economic, to grow rich and rule the rest of the world. The western capitalistic countries are known as the early advance and developed countries that rules the world by controlling the rest of the world based on their advancement in; Ideatlation, creativity ,innovation, science and invention, colonialism and imperialism inequalities of income and growth , quest for resource trade, etc. Western Capitalistic Countries brought about inequality and unfair distribution of wealth and power; a tendency towards market monopoly or oligopoly (government by oligarchy). These western capitalistic countries brought about imperialism, counterrevolutionary war, various forms of economic, cultural-exploitation, repression of workers, trade - unionist, economic instability and unemployment to developing countries/communities in other to grow rich and rule.

Idealation, The Western Capitalistic Countries System The western capitalistic countries have over the past century introduces their ways of organizing and interacting with the environment, to people throughout the world. The western countries are known as natural builders, they are good at creating new ideals or models .The western capitalistic countries have grew rich and rule as a result of ideals and imposing these ideals on the rest of the world. Too many countries around the world are suffering the consequences of the western capitalist enforcement; in re-organizing the world fit the requirements of the western capitalistic countries. The western countries requires the rest of the world to accept their ideals of re-organizing of their models and understanding and in doing so, they have establish and maintained a world economic system. This western capitalistic countries seen themselves has the champion of human right but this are the right of the superpower. Khomeini 1979; what the western capitalistic countries want to secure is the right of the superpower. The Western Capitalism Countries and Creativity The western capitalism countries are known for their creative capitalism. The western capitalism countries consider creativity as their culture and way of life. These western capitalism countries are always looking for new ideas or something new. Creativity is defined; as the phenomenon whereby a person creates something new (a product, a solution, a work of art, a novel a joke, etc.) that has some kind of value. Creativity is one of the central ideas of contemporary culture of the western capitalism countries. They realize the importance of creativity as it pivot role, in range of powerful economy. (Williams 1976: 82-4, 274-6) the idea of creativity has become fundamental to the economics of the knowledge economy (Hesmondhalgh 2007: 87). Arguably, creativity has become to postmodern capitalism what efficiency was to the bureaucratic corporations of the twentieth century (see, for example, Boltanski & Chiapello 2007): that mysterious individual and collective quality which distinguishes the successful from

the unsuccessful; the intangible source of value and profit which techniques of education, management and administration must all be deployed in order to cultivate. Western Capitalism Countries Colonialism & Imperialism The western capitalism countries used colonization and imperialism to en-rich themselves. They saw the need for more power and to be more powerful, to increase their control over large regions, as to exercise their control of getting rich through resources of these countries the conquered. This western capitalism countries venture into colonization of countries and they used this method to control the people and its resources, to their advantages. Although colonization is ancient practice but it has great effects on the people or communities that are being colonize by this western capitalism countries. The human minds, environment and eventually things were colonized to their advantages. Colonization is not entirely a matter of occupying nearly empty real estate but for the benefits of controlled and exploitive trade. France built a large colonial empire and this has contributed to Frances economic growth and advancement. The western capitalism countries economic advance, arose from imperialism is based on the fact that colonies provided market for goods and service produced by this western capitalism countries. Britain embarked on invading and conquering the fertile heartlands of Asia and Africa to occupy their natural resources and use human beings as slave trade - a business ran efficiently across the seas unto the making of new America. Italian, Dutch, Spanish, Portuguese and other followed the suit. Imperialism is older than capitalism. Capitalist imperialism differs from these earlier forms in the way it systematically accumulates capital through the organized exploitation of labor and the penetration of overseas markets. Capitalist imperialism invests in other countries, transforming and dominating their economies, cultures, and political life,

integrating their financial and productive structures into an international system of capital accumulation. The center of colonialism and imperialism is based on expansion. The western capitalism countries are seen as investors. They put their money into business ventures and unless they can extract more than they invest. The Western capitalism countries ceaselessly, searches for ways of making more money in order to make still more money. They belief that one must always invest to realize profits, gathering as much strength as possible in the face of competing forces and unpredictable markets. North American and European corporations have acquired control of more than threefourths of the known mineral resources of Asia, Africa, and Latin America. But the pursuit of natural resources is not the only reason for capitalist overseas expansion. There is the additional need to cut production costs and maximize profits by investing in countries with cheaper labor markets. U.S. corporate foreign investment grew 84 percent from 1985 to 1990, the most dramatic increase being in cheap-labor countries like South Korea, Taiwan, Spain, and Singapore. Citibank, one of the largest U.S. firms, earns about 75 percent of its profits from overseas operations. While profit margins at home sometimes have had a sluggish growth, earnings abroad have continued to rise dramatically, fostering the development of what has become known as the multinational or transnational corporation. Today some four hundred transnational companies control about 80 percent of the capital assets of the global free market and are extending their grasp into the ex-communist countries of Eastern Europe. In fact, the lands of Asia, Africa, and Latin America have long produced great treasures of foods, minerals and other natural resources. That is why the Europeans went through all the trouble to steal and plunder them. One does not go to poor places for selfenrichment. The Third World is rich. Only its people are poorand it is because of the pillage they have endured. First, the colonizers extracted gold, silver, furs, silks, and spices, then flax, hemp, timber, molasses, sugar, rum, rubber, tobacco, calico, cocoa,

coffee, cotton, copper, coal, palm oil, tin, iron, ivory, ebony, and later on, oil, zinc, manganese, mercury, platinum, cobalt, bauxite, aluminum, and uranium. Western Capitalism Quest for Resources The western capitalism countries population was growing rapid that it resources where not enough to meet up with his growing population. There was much need for development and secured power, the western capitalism countries had a great need for other natural resources. Africa and Asia countries were rich in natural resources but poor at technology to develop it resource. The western capitalism countries place a trade restriction law that benefits them. Karl Marx attributed some of the new wealth of the western capitalism countries to its imperialist conquest and its commercial acquisition of raw materials from the third world countries and this started in the sixteen (16) century. By the nineteen (19) century, there is great argument for owning natural resources by England, France, Germany and others. These western capitalism countries impose trade restrictions but explore the natural resources without placing restriction on themselves. They increase corruption in Africa and Asia to a higher magnitude, so that they will be able to have their way in exploring the natural resources of these countries to their own advantage. They develop and produce the natural resources to finish products and re-sell back to these countries. These have been able to enrich the western capitalism countries. These western capitalism countries extracted gold, silver, furs, silks, and spices, then flax, hemp, timber, molasses, sugar, rum, rubber, tobacco, calico, cocoa, coffee, cotton, copper, coal, palm oil, tin, iron, ivory, ebony, and later on, oil, zinc, manganese, mercury, platinum, cobalt, bauxite, aluminum, and uranium. Innovation the New Source of Growth of the Western Capitalism Countries The current source of growth of the western capitalism countries is now based on innovations in trade, technology, organization and in combination with accumulation of more and capital, labor and natural resources. Innovation is now the significant factor of early western capitalism countries growth. Currently, innovation has occurred in trading,

production and products and service, this has brought about the western capitalism countries exploring the third world countries and as expand the trade and western capitalism countries development of resources. It is said that innovation result to growth and it requires the frequent growth of capital and labor. The western capitalism countries place higher value on innovation and as the western economies expanded, so their stock of capital. They increase expenditure on education, the accumulation of skills by their workforce and in their population. The money spent on education and skill train in their budget is high and this has given birth to more innovation of products. Innovation in the western capitalism countries brings about rapid rate of economic growth. The western capitalism countries system of growth requires a social class with capacity to effect innovations, with incentive or motive for innovation. They have a social force that is formidable to oppose to change, growth and innovation.

REASON WHY THE POLICY AND PRACTICE OF THE WESTERN CAPITALISM CAN NOT BE EMBRACE OR FULLY PRACTISE BY THE THIRD WORLD COUNTRIES There are many reason why the western capitalism countries policy and practice are not allowed to be embrace or fully practice by most of the third world countries are of various reasons. But it will be right to say that policies and practices that made this western capitalism to be rich and powerful, is also the same reason that they dont want the third-world countries to practice the same policies. From my view points based on my research, I will say that these western capitalism countries wants to keep maintaining a differences between them and the third-world countries and play the role of the boss (Super-power). Since Capitalism is the creation of wealth, innovations and in turns gives rise to political power. These western capitalism countries in turn want to ensure that power and wealth is being sustained. Therefore, these western capitalism countries have directly and indirectly impose imperialism. Imperialism is he maintenance of unequal economic, cultural and territorial relationship and it is based on domination and subordination. These western capitalism countries always want to control the future of its subordinate (Third World Countries) by ensuring that there are laws and policies in place to checkmate and restrict these third world countries from embracing and practicing most of the policies and practice that made them rich and powerful. An example of western domination; International Monetary Fund: Western Past or Asian Future (May 19th, 2011), Western Europeans demands that the US abide by tradition and allow for the next IMF chief to come from EU. These western capitalism countries want to keep exploring and exploiting African and Asian and it resources. They want to keep determining the price of exportable African

and Asian natural resources and man-made commodities. The price of African and Asian commodities do not receive the right competitive price they deserve because of complex world trade, these western capitalism countries continues to be those who determines the price of gold, cocoa, timber and all exportable resources from the thirdworld countries.

CONCLUSION The western capitalistic countries are known as the early advance and developed countries that rules the world by controlling the rest of the world based on their advancement in; Ideatlation, creativity ,innovation, science and invention, colonialism and imperialism inequalities of income and growth , quest for resource trade. They brought about inequalities and policies that protect them as superpowers. Societies/Countries can practice capitalism. First, they must inculcate certain policies and principles which are necessary for capitalism to thrive. Also, the government on any nation that practices capitalism must use a combination of monetary and fiscal policy to achieve wealth distribution. The government must use a combination of tax and welfare programs to attempt to strike a balance; however, this should not be too extreme. But with restriction laws and imperialism being place directly and indirectly, the thirdworld countries cannot grow rich, except for a balance in policies that allows for equal power. Many third-world nations are in debt and poverty partly due to the policies of international institutions such as the International Monetary Fund (IMF) and the World Bank.