Lenin's Theory Of Imperialism Analysis

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In today’s era, the general perception or the assumption among populations is that capitalism is present and seems like it is here to stay. The ugly truth that we all have to accept is that this world has gone to extremes in generating wealth and has not reciprocated enough by letting the third world countries attain equivalent growth. It is important to go back 100 years to understand the nature of imperialism which was studied in depth by Lenin. Lenin the leader of the Russian revolution wrote his influential book ‘’Imperialism the highest stage of capitalism’’ in early 1916 which means that this book was written in the middle of the First World War and he was attempting to explain the reasons for the war and to show how it was rooted in …show more content…
The main features of imperialism according to Lenin was the concentration of production and capital, the export of capital, the merging of bank capital with industrial capital and the territorial division of the entire world among the capitalist powers. (Targ).The export of capital held correct for Lenin because in the 18th century, in 1897 USA had only 700 million dollars total investment abroad, and by 1914 it had increased to 5 billion. This continued to increase rapidly and reached a staggering amount of 166.9 billion dollars in 1970. (Scott) Centralization of capital was crucial to Lenin in understanding the notion of imperialism, as production seemed to concentrate on limited countries, i.e. western countries, rather than having several producers or smaller industries with assets, we see this capitalist tendency of one or few firms accumulating and dominating entire means of production. Furthermore these producers are encouraged and are supported by the banks to finance their …show more content…
and this had deep effects on sociocultural and economic conditions for the people. The great depression in Britain in 1870’s had enormous effects on its economy so their territorial conquests overseas and extracting resources helped them build their economy and get it back on track. Before the war, between 1860 and 1910, England went to control large tracts of land in Africa and other European powers like Germany and France controlled large areas of land too. Back to the concentration of production, the several oligarchs get closely associated with the state and thus having an influence on state policy which leads us to the concept of ‘Monopoly Capital’. (Patnaik). We get a general idea of what this term means, but there was something else in addition to this, not only were there monopolies who controlled large means of production backed by nation states, this spiraled over ‘economic territory’ and there was a race to who could control more colonies and gain more territory, and this produced wars.

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