Chapter 4.3 Lenin and the theory of imperialism

Question 1

How did Lenin rose to fame?

Answer 1

with his essay written in 1916, Imperialism the highest stage of Capitalism

It sought to explain the outbreak of war between major capitalist countries of Europe as a consequence of imperialist competition

Question 2

what are the key elements of explaining imperialism?

Answer 2

Creation of large monopolies
Formation of finance capital
Exports capital
Expansionist drive
Scramble for colonies

Question 3

Explain the creation of large monopolies

Answer 3

In emperialist era, capitalism has entered its highest and final stage.

Characterised by concentration of capital and productive forces, leading to the creation of large monopolies that dominate the capitalist economy

Imperialism is the monopoly stage of capitalism

Question 4

Explain formation of finance capital

Answer 4

Concentration process led to merging of bank capital with industrial capital, to form a new financial oligarchy called finance capital

The representatives of finance capital become the voice of a united capitalist interest and possess unrivaled economic and political influence

Question 5

Explain export capital

Answer 5

leading economies no longer export goods but increasingly export capital.

because falling rate of profit in developed home markets, capital needs to find new forms of employment abroad

Question 6

Explain expansionist drive

Answer 6

consequence called ‘international monopolist capitalist combines’, in effect corporate interests combined with governments that seek to expand colonial empires and capture new international markets

Question 7

Explain scramble for colonies

Answer 7

earth’s limited resources will drive leading capitalist economies to conflict and war.

war an inevitable outcome and will lead to final collapse of capitalism in a worldwide revolution

Question 8

Why Lenin’s prediction did not came true?

Answer 8

Working class had abandoned its revolutionary mission and become complicit in the maintenance of capitalist order

‘labour aristocracy’ emerged from the spoils of colonialism through higher wages and prevented united stand of the working class against their capitalist rulers

colonial powers coexists peacefully after 1918 (breakdown of Austro-Hungarian and Ottoman empires as post war settlement)

Decolonisation after world war 2

Question 9

Creation of large monopolies
Formation of finance capital
Exports capital
Expansionist drive
Scramble for colonies

They are the key elements of?

Answer 9

Imperialism