First American Empire Case Study

Introduction
To answer the question as to how the First American Empire shaped prospects for industrialization in developing countries, certain terms need to firstly, be defined. These terms are namely; the First American Empire, industrialization as well as developing countries. Only once these concepts are understood, will the answer to the above mentioned question become apparent.
Defining concepts
The First American Empire began in 1950 and lasted for about thirty years. It is said to be the era in which the world enjoyed economic prosperity and is often referred to by Amsden (2007:1) as ‘The Golden Age’. The First American Empire is regarded as a champion of decolonization as it allowed America the opportunity to penetrate regions previously monopolized by other states. It is said that there has still been no epoch which has allowed

Jomo Kenyatta was the president of Kenya during 1964 until 1978, he was able to use his broad knowledge about Kenya and its’ social as well economic standing and combine it with the knowledge he had gained while doing his PHD in Britain to improve Kenya (Amsden,2007).
Import-substitution industrialization
The First American Empire granted developing countries the opportunity to experiment. These countries experimented by locally producing goods as services which they would have otherwise imported. By doing so, developing countries were able to discover goods and services which they would later export. Thus, developing countries grew more independent and eventually become a larger contributor in the world marked (Amsden,2007:12).
Import-substitution offered developing countries may prospects. It enabled job creation as well created a space for entrepreneurs to express their creativity. This all created a domino effect as individuals began to educate themselves in order to become more employable by entrepreneurs and ultimately lead to better living standards and improve growth