In Imperialism, the Highest Stage of Capitalism (1917), Lenin outlined the five features of capitalist development that lead to imperialism: Concentration of production and capital leading to the dominance of national and multinational monopolies and cartels. Industrial capital as the dominant form of capital has been replaced by finance capital, with the industrial capitalists increasingly reliant on capital provided by monopolistic financial institutions; “Again and again, the final word in the development of banking is monopoly.” The export of the aforementioned finance capital is emphasized over the export of goods; The economic division of the world by between multinational cartels; The political division of the world into colonies by the great powers, in which the great powers monopolise investment.
Posted on: Wed, 26 Jun 2013 02:55:26 +0000
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