Celso Furtado notes that while most of Europe’s feudal seigneurs obtained an economic surplus from the people they dominated and used it in one way or another in the same areas, the chief aim of those Spaniards who received Latin American mines, lands, and Indians from the king was to extract a surplus to send to Europe.16 This observation helps explain the ultimate goal of the Latin American colonial economy from its inception: although it showed some feudal characteristics, it functioned at the service of capitalism developing elsewhere. Nor, indeed, can the existence of wealthy capitalist
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Global capitalist structure/systems
