Capitalist Imperialism

Imperialism is the highest stage of capitalism. It is a global system of economic, political, and military domination, with the imperialist powers using a variety of means, including economic sanctions, military interventions, and cultural influence to maintain their dominance over other nations.

Imperialism is inevitable under Capitalism because Capitalism is based on the premise of infinite growth in a finite system. When capitalists first run into the limits of their own country, they will eventually be forced to expand their markets, resources, and influence into other countries and territories in order to continue increasing their profits.

Furthermore, the capitalists can exploit and oppress the workers of other nations much more easily than they can in their own. For example, by moving manufacturing jobs from the imperial core out to the periphery where wages are lower, and environmental protections and labour rights are much weaker-- if they exist at all-- they can reduce costs which increases profits.

When the capitalists run into limits again, and are unable to continue increasing their profits-- even by exploiting the periphery-- they will inevitably turn Imperialism inwards and further oppress and exploit workers domestically. This is the origin of Fascism.

Features

Some key features of capitalist imperialism are:

1. Joint-stock corporations dominating the economy
2. Increasing monopolies within capitalist economies (For example, only 10 companies control almost every large food and beverage brand in the world.)
3. Globalization of capital through multinational corporations
4. A rise in the export of finance capital
5. More involvement of the capitalist state in managing the economy
6. A growing financial sector and oligarchy
7. The domination and exploitation of other countries by militaristic imperialist powers, now through neocolonialism
8. Overall, a period of world strife and conflict, including imperialist wars and revolutionary uprisings against the capitalist-imperialist system.

In Practice

So what does this look like in practice? The IMF, for example, provides loans to countries facing economic crises, but these loans come with strict conditions, known as structural adjustment programs (SAPs). These conditions require recipient countries to adopt specific economic policies, such as reducing government spending, liberalizing trade, and privatizing state-owned enterprises. The SAPs also require austerity measures, such as the dismantling of labor and trade regulations or slashing of social programs and government spending, to attract and open up the country to foreign investment.

These policies prioritize the interests of multinational corporations and investors over those of the recipient countries and their citizens. For example, by requiring the privatization of state-owned enterprises, the IMF may enable multinational corporations to gain control of key industries and resources in recipient countries. Similarly, by promoting liberalized trade, the IMF may facilitate the export of capital from recipient countries to wealthier nations, exacerbating global inequalities.

Moreover, SAPs are often negotiated behind closed doors with the political elites of recipient countries (the comprador bureaucratic class), rather than through democratic processes. This can undermine the sovereignty of recipient countries and perpetuate the domination of wealthy nations and multinational corporations over the global economy.

Anti-Imperialism

The struggle against Imperialism is an essential part of the struggle for Socialism and the liberation of the working class and oppressed people worldwide. Anti-Imperialism is the political and economic resistance to Imperialism and Colonialism (or neo-Imperialism and neo-Colonialism). Anti-Imperialism requires a revolutionary struggle against the Capitalist state and the establishment of a Socialist society.

It is important to recognize that anti-Imperialism is not simply about supporting one state or another, but about supporting the liberation of oppressed peoples from the exploitation and domination of global Imperialism. Therefore, any course of action should be evaluated in terms of its potential impact on the broader struggle against Imperialism and the goal of establishing a Socialist society.

During WWI, Lenin called on Socialists to reject the idea of a “just” or “defensive” war, and instead to see the conflict as a class war between the ruling class and the working class. He argued that Socialists should oppose the war and work towards the overthrow of the Capitalist state. Seeing that the war was an Imperialist conflict between competing Capitalist powers, the workers of all countries had a common interest in opposing it. Socialists who supported their home countries during World War I had betrayed the principles of international Socialism and Proletarian solidarity.

Additional Resources

Video Essays:

• Lenin in Five Minutes: Imperialism | The Marxist Project (2019)
• What is Capitalist Imperialism? | Socialism 101 | Marxism Today (2022)
• How Rich Countries Rob The Poor; The Failure of Social Democracy | Hakim (2020) Archive
• How Capitalism Robs the Developing World | Second Thought (2022)
• 4 Characteristics of the Current Phase of Imperialism | The Peace Report (2022)
• Why Do Poor Countries Stay Poor? (Unequal Exchange and Imperialism) | Hakim (2023) Archive
• Imperialism Today: Unequal Exchange and Globalized Production | The Marxist Project (2022)
• This Poverty Graph Is Lying To You | Hakim (2023)
• The Myth Of Capitalist Peace | Second Thought (2023)

Books, Articles, or Essays:

• Imperialism, the Highest Stage of Capitalism | V. I. Lenin (1917)
• Lenin’s ‘Imperialism’ in the 21st Century | Institute of Political Economy (2018)
• The IMF debt trap in Ukraine | Amanda Yee (2023)

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