hobson and lenin theory of imperialism

The writing of Hobson inspired Lenin and the writing of Lenin is one of the cornerstones of the Marxist- Leninist school of thought, so both are important. A Study (1902) Marxist Theories Example: Lenin Imperialism also arises because increased concentration of wealth leads to undeconsumption. J. Strachey, The End of Empire (1959), ch. 4. Lenin and thought to … The key to understanding it was an economic analysis of the transition from free competititon to monopoly. He argued that 19th century imperialism had an “economic taproot” (1902); that it was commercially worthless in trade, benefitting few, but symptomatic of market failure to allocate income effectively. Recently Thomas Hauner, Suresh Naidu and I published the draft of a joint piece (here and here) that examines empirically several links in the Hobson-Lenin-Luxemburg theory of imperialism.I will not discuss it here (the interested reader may consult the first section of our paper) because I would like to focus on another contemporary theory of imperialism, Schumpeter’s. His principal and earliest contribution to economics was the theory of underconsumption, a scathing criticism of Say's law and classical economics' emphasis on thrift. Imperialism is a phenomenon that played and still plays an important role in the world economic scene and it reaches to the political, military and social scenes as well. See T. Kemp, Theories oflmperialism (i967), pp. Surplus capital, Schumpeter's more sociological analysis, the fact that all three thinkers assume that minority pressure groups are highly influential in imperialism. Rather tho completed theory expressed in "IMperi­ alism, the Highest Stage of Capitalism" was a syncretism of several dif­ The theories of Hobson, Kautsky, Schumpeter and Galtung contributed to a liberal view of imperialism. The “Hobson-Lenin Thesis”: Inequality, Imperialism, and the First World War In a small section in his new book, Branko Milanovic argues that the First World War was ultimately caused by income & wealth inequality within the belligerent countries, resurrecting ideas from John A. By ET. However, Hobson viewed imperialism as beneficial only to certain sectors of business (such as the arms industry), not rooted in the nature of capitalism itself. Analysis of Marxist engagement with imperialism during this period reveals three distinct phases of theorising. Powerful financiers seek investment opportunities with a high rate of return for their excess savings, driving them to invest in the "uncivilized" lands of Africa. Hobson’s theory would fast number among the most influential critiques of imperialism. This intensification had begun during the second half of the 19th century. John Atkinson Hobson. This book provides an analysis of the historical logic and the laws of motion of capitalism. In historical context, income distribution was an ambiguous factor in Europe’s capital flows. The first thinker who created the Marxist theory of international relations was Vladimir Lenin. Both theorists identify imperialism as territorial and/or economic. The era which Lenin defined as imperialism. cit., p. 35-69. The economic theory of imperialism was introduced by J.A. of Burke, Marx, Hobson, Lenin, Luxemburg, Gandhi, Fanon, Guha, and Said, there remains disagreement about its meaning and relevance; and there is still much confusion about its relationship to ‘colonialism’. John A. Hobson, Imperialism. The Hobson-Lenin theory is weak on the facts. This is an advanced text dealing with Hobson’s (1902) theory of imperialism, but requiring the reader to possess some reasonable familiarity with (if not intimate knowledge of) cognate texts by Hilferding, Lenin, Bukharin, and Luxembourg. Origin of Imperialism in India. Lenin's contributions on imperialist territorialization and strategy pinpoint challenges in solely promoting Imperialism hardly required “surplus savings” in the first place. He upgraded the teachings of Marx and Engels, and then apply that to the realities of world politics, and world economy of the late 19th early 20th century. Hobson, which preceded it. He accounts for this by explaining that capitalism has over-ripened. They fall into two groups, namely ‘reformists’ and ‘revolutionaries’. A Hobson have tried to define this phenomenon , explain its causes and its consequences. May 19, 2013. Imperialism was written in 1916 in the wake of the mechanized brutality of WWI. Lenin saw capitalism evolving into a higher stage. Throughout, the author objectively evaluates the theory that capitalism is a cause of aggression – a fundamental tenet of anti-imperialist writers. A good summary of three classic positions in imperialism (or two positions, since Lenin's and Hobson's were the same). Hobson’s work emphasised welfare, liberalism and institutionalism. However, since the state represents the capitalist interest it is not possible to reduce … His geopolitical propositions influenced the work of prominent figures such as Nikolai Bukharin, Vladimir Lenin, and Hannah Arendt. from Hobson and that there is a 'Hobson-Lenin' theory of imperialism (e.g. Although Hobson himself was not a Marxist (he was a classical liberal), his theory would play a key role in shaping subsequent Marxist theories of imperialism, most notably that of V. I. Lenin. This book was written on a combination of Marxist theory with actual reference to the method of classical imperialism that was widely prevalent at the time. M. Barratt Brown, ‘A Critique of Marxist Theories of Imperialism’ in Owen and Sutcliffe, op. Hobson argued that under consumption was the cause of imperialism and that with an increase in domestic consumption in Britain, there would be no need to expand into foreign markets, such as the theory of imperialism, usually came in answeP to immediate crises rather than as deliberately projected plans. Whereas the English free-market imperialism of the nineteenth century moved toward the state of anarchy and war, which Hobson anticipated and Lenin described, Arrighi tells us that ‘the informal American imperialism which has asserted itself in the last decade represents a relatively stable tendency.’ general debate on theories of imperialism. Hobson attributed these capital exports to the “surplus savings” of the elites and, by implication, the ‘underconsumption’ of the masses. Lenin adopted a similar argument, but with a small difference (which becomes relevant later). V. Russia, capitalist imperialism of the latest type [i.e., finance capital] has fully revealed itself in the policy of tsarism towards Persia, Manchuria and Mongolia.” In an article entitled, “Imperialism and the Split in Socialism” (October 1916), Lenin picks up on the comparison of Tsarist Russia and Japan, situating them According to Hobson's theory, imperialism arises from the generation of under-consumption and over-saving in the capitalistic economy of the home country. What is V.I. I do not wish to become embroiled in that debate, but instead to clear away one persistent misunderstanding. imperialism was a way to open markets abroad to offload the excessive quantities of goods going un-purchased in the home country (general gluts) and to seek better investment opportunities. Although the theories of Hobson, Lenin, and Schumpeter generally focus on imperialism of European powers, especially Great Britain, in the late nineteenth and early twentieth centuries, this paper will examine these theories to assess their relevance in explaining the causes of Japan’s imperialist push into other countries of Asia. Hobson expands on the theory and practice of imperialism and its political significance at the turn of the century. Lenin was also influenced by the British liberal economist J.A. Instead, Imperialism originates from the growth and development of finance capital. the concentration of production and capital has developed to such a high stage that it has created monopolies which Lenin’s theory of imperialism is derived from the book "Imperialism - the Highest Stage of Capitalism" by Vladimir Lenin. His theory of im-perialism grew out of a study of two books, Hobson's Imperialism andRudolf Helferding's Finanz-Kapitalismus (1910). Imperialism: A Study (1902). Hobson is best known for his writing on imperialism, which influenced Vladimir Lenin and his theory of underconsumption. His principal and earliest contribution to economics was the theory of underconsumption, a scathing criticism of Say's law and classical economics' emphasis on thrift. A Hobson have tried to define this phenomenon , explain its causes and its consequences. What is known as the theory of 'capitalist' or 'economic imperialism', attached to the names of J.A. LENIN, IMPERIALISM AND WAR Lenin undertook his detailed study of Imperialism: The Highest Stage of Capitalism in 1916, basing it on the research of an English economist named JA Hobson. The Leninist Theory of Imperialism, the Guide for the Struggle of the Communists Certain issues related to Lenin’s work “Imperialism, the highest stage of capitalism” on the occasion of its 100th anniversary this year.By Giorgos Marinos, Political Bureau, KKEThe complexity of the economic and political developments at an international and national level is borne out […] Hobson and V.I. Hobson’s book Imperialism: A Study, first published in 1902. 36-9, and B. Semmel, The Rise of Free Trade Imperialism: Classical Political Economy, the Empire of Free Trade … vi). The writers in the first phase I call the ‘pioneers of imperialism theory’. Imperialism is a phenomenon that played and still plays an important role in the world economic scene and it reaches to the political, military and social scenes as well. dimitrithebest. V. Hobson is best known for his writing on imperialism, which influenced Vladimir Lenin and his theory of underconsumption. The Lenin-Hobson theory represents Lenin's (1939) Marxist interpre-tation of Hobson's (1902) liberal critique of imperialism. Lenin subsequently explains the export and accumulation of this capital in the form of Imperialist expansion. Finance Capital: A Study of the Latest Phase of Capitalist Development (1910). Lenin’s Imperialism : Summary. Two of 20th century ’s greatest theorists, V. I Lenin and J. Most damaging of all to the Hobson-Lenin theory, well over 50 per cent of British capital exports up to 1914 went to other capitalist countries, a large proportion going Luxemburg and Bukharin, op. Though a pacifist and political liberal, Lenin considered his study of imperialism vastly superior to Kautsky’s, which had by then joined forces with the bourgeois apologists. Imperialism: A Study (1902) established Hobson's international reputation in political science. Now a fundamental of communist theory everywhere, the Lenin-Hobson theory explains imperialism, world wars, and regional In the excerpt below, the book's first chapter, Arrighi identifies four primary elements of Hobson's conception of imperialism and isolates them in the form of Weberian ideal types, which them serve as the coordinates for his "topological" reconstruction. Third: Lenin's argument in Imperialism, The Highest Stage of Capitalism is shown to be heavily dependent on earlier writings on the economics of imperialism by Hobson, Hilferding, and others, and Lenin's work is therefore judged to be rather unoriginal and (intellectually, at least) unimportant. Hobson, a socialist economist. Rudolf Hilferding. Hobson 73 4.1 Under-consumption 75 4.2 Monopoly and capital export 77 4.3 The politics of imperialism 82 4.4 Summary 86 5. Hilferding 88 5.1 Finance capital 89 5.2 Protectionism and economic territory 95 5.3 Capital export 100 5.4 Imperialism 104 5.5 Summary 108 6. Within Lenin’s framework, inter-imperialist wars are secondary to exploitation of the poor economies, as these wars are ultimately about redrawing the terms and conditions of that exploitation. The Lenin-Hobson theory of imperialism provides the central issues under discussion in this section. Kautsky called ultra-imperialism or super-imperialism what Hobson, thirteen years earlier, described as inter- imperialism. "imperialism the highest stage of capitalism"-same as Hobson's ideas and that diplomatic alliances inevitably resulted in the competition among nations. Domestically, capital was concentrating into large monopolistic corporations … Those presuppositions were to be located not in Lenin's own theory, but in that of J.A. A Comparison Between Marxism and Leninism in Relation to Imperialism Lenin developed his theory of imperialism amid an intensification of European engagement with the periphery. The author acknowledges that imperialism is often supported by a sense of nationalistic pride and achievement, particularly when regarding the British Empire's colonial imperialism. Lenin's theory on imperialism and what book did he write? In his influential book written at the beginning of the 20th century, Hobson argued that capitalist societies produce an excess of goods and capital because they underpay their workers. On a standard understanding of the distinction between colonialism To find outlets for these Lenin’s theory of imperialism revolves primarily around the systematic exploitation of the poor economies by monopoly capital based principally in the rich economies. Lenin, Hobson, and Schumpeter on Imperialism. At the turn of the twentieth century, the argument linking colonialism to domestic maldistribution of income was made by John Hobson in his book Imperialism: A Study ( [ 1902] 1965). It was followed by works by Rosa Luxemburg in 1913 (The Accumulation of Capital) and Vladimir I. Lenin in 1916 (Imperialism, the Highest Stage of Capitalism). Colonial outlets were not necessary for the surplus savings of the European powers. The d~valop~ent of Lenin's theory of imperialism did not follow a smooth logical path. In fact the Marxist theory is conceptually very different and does not rely on Hobsonian under-consumptionism. 18 Lenin disagrees with Hobson that excess capital propels Imperialism. Two of 20th century ’s greatest theorists, V. I Lenin and J. Later historians attacked Hobson and the Marxist theories of imperialism he influenced. It also gives fascinating insight into the theories of imperialism advocated by such diverse writers as Hobson, Wilshire, Angell, Brailsford, Luxemberg and Lenin. cit., p. 248. … NICOLAI LENIN These later views of Hobson were completely ignored by Lenin in hisbook, Imperialism, the Highest Stage of Capitalism.

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