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 No.2547

I don't know much about Imperialism. Can someone summarise the key differences between the Luxemburgian theory of Imperialism and the ML theory of Imperialism?
Where do they differ and which of them is, in your mind, more accurate?
I have unfortunately not the time to read "Die Akkumulation des Kapitals." or "Imperialism, the Highest Stage of Capitalism" as I have to do a lot of reading for uni at the time and my tbr list is already way too long.
It´s a topic I'm really interested in and I would appreciate it if you could help me out here.
Maybe you know a shorter, more accessible introductional book on imperialism.
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 No.3011

>>2547
>industrial capital merges together with bank capital, creates financial capital
>creating of trusts, monopolies, bourgeois unions, and so on
>trusts destroy and choke the competition, capital centralizes even further
>centralization means monopoly over natural resources
>regional goes national, national goes international
>biggest firms own the capital in other countries, exploits further their resources and labor force
>world is now partitioned between the most developed capitalist states. further repartitions will cause wars
>imperialism

Correct me if I missed something, comrades.
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 No.3012

>>3011
You missed the part about the banking hegemony where countries are invaded when they stop using the dominant financial transaction system. You know like in Libya the first thing the counter revolutionaries did was create a new central bank to undo the Gold-dinar that Gaddafi had implemented. I think this is a relatively recent development of imperialism.
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 No.3017

>>3012
Monopolies became entrenched around the late 1800s before the formation of our modern credit system. A credit system which Lenin nor Marx could not commentate on as the the gold standard had not been dropped in place of the US dollar yet. Libya's threat to the US dollar would lower the demand for the US dollar and weaken its purchasing power. The US has a trade deficit, thus its dollars flood foreign markets, particularly those which it extracts value from. Its military opens up new markets and creates more capital in the process of capital accumulation.
Michael Hudson explains this much better than I can, and he is foremost the leading economist in formulation of American imperialism and the debt economy.

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