Final answer:
Colonialism refers to the historical practice where one nation subjugates another, exploiting its resources and labor for economic gain. Neocolonialism, a modern variant, achieves similar goals through economic and political means without direct territorial control, often associated with corporate colonialism.
Step-by-step explanation:
Colonialism is a practice of dominance, which involves the subjugation of one people to another. Historically, this was achieved by European powers from the late 15th century onwards with the Age of Discovery and into the 20th century. European Colonialism was driven by the desire for physical control and economic gain, often justified by an alleged duty known as the 'White man's burden' to civilize other parts of the world. It led to the exploitation of natural resources and indigenous labor, establishing a socio-economic structure that favored the colonizer's interests and profoundly disrupted indigenous cultures.
Neocolonialism refers to a modern form of colonialism post-European imperial colonialism, starting around 1945 to the present, usually conducted through economic and political pressure by capitalist countries to control and exploit former colonies and other less developed countries. It does not involve direct territorial control but influences these countries indirectly for economic gains, similar to corporate colonialism that emerged around 1991. Multinational corporations, under neocolonialism, do not seek to own a country or run its government but exploit its resources, labor, and markets to benefit their profit margins at the expense of local economies and sovereignty.