Bin Yu

ABSTRACT

Lenin once defined imperialism as the highest stage of capitalism, since ownership was separated from the function of management, i.e., big capital was divorced from the running of enterprises, which was in the hands of professional managers. Nowadays, neo-imperialism is the final stage of imperialism because big capital is separated from production itself, and relies on its power to appropriate the benefits. Lenin maintained that the imperialist stage of capitalism emerged in Europe around the beginning of the twentieth century; this article holds that the stage of neo-imperialism emerged in the 1970s. In Lenin’s view, the key economic characteristic of imperialism was the export of capital. In this article, the export of paper money is considered the key economic characteristic of neo-imperialism. Since exchanging paper money for gold ceased to be possible following the collapse of the Bretton Woods system, this money in essence amounts to IOUs. Furthermore, neo-imperialism utilizes intellectual property rights to exact rents, and charges carbon tributes for excess carbon emissions. Neo-imperialist nations that export IOUs engage in struggles against one another as changes occur in their relative strength. The end of neo-imperialism and the complete demise of capitalism are not only inevitable, but also not particularly distant.

KEYWORDS

Neo-imperialism; imperialism; export of IOUs; knowledge rents; carbon tribute

From: International Critical Thought 2020 10 (4)

Editor: Wang Yi