Capitalism and Imperialism in the Twentieth and Early Twenty-First Century: A Critical Analysis of Conventional and Marxist Theories of Imperialism

ABSTRACT

This article provides a critical analysis of conventional and Marxist theories of imperialism. The article then looks at the globalization of capital and imperialism in the twenty-first century and explores the relationship between these two phenomena and examines the forces behind modern imperialism, class struggle, and revolution for the transformation of capitalist imperialism in the twenty-first century with all its political implications. It argues that contemporary capitalist imperialism and its inherent contradictions are going to set the stage for the rise of a global working class movement that will lead to the transformation of capitalist imperialism through a worldwide proletarian revolution in the twenty-first century. Thus, the article concludes by articulating the superiority of Marxist theories of imperialism as against their liberal and critical counterparts in predicting the future course of development of capitalism and the challenges that it will face by an organized international working class movement that is destined to rise up against the capitalist-imperialist system and replace it with socialism in the not too distant future.

KEYWORDS:

• Capitalism
• imperialism
• globalization
• class struggle
• revolution

Disclosure Statement

No potential conflict of interest was reported by the author(s).

Notes

1 One should note here the special role of defense contractors and the influence that they exert over the state that results in greater military spending, imperial wars, and overall global imperialist expansion, as pointed out by Marxist political economists. On this point, see Hossein-Zadeh (2006) who argues that military-imperialism is a special parasitic form of imperialism that serves the interests of defense contractors and pushes for military ventures that may even damage the interests of other sections of the capitalist class. This dovetails with, but also differs significantly from, Kennedy's argument. Likewise, Parenti (1995, 2011) who has often reminded us that “the empire feeds off of the republic” stresses the fact that the costs paid for by imperial wars and the maintenance of immense military spending levels is largely contrary to the interests of the working class. However, looking at this from a Marxist perspective, neither Parenti nor Hossein-Zadeh would lose sight of the mode of production like Kennedy.

Additional information

Notes on contributors

Berch Berberoglu

Berch Berberoglu is a foundation professor of sociology and former director of the Ozmen Institute for Global Studies at the University of Nevada, Reno, USA. He received his Ph.D. from the University of Oregon in 1977. He has been teaching and conducting research at the University of Nevada, Reno for the past four decades. His areas of specialization include globalization, international political economy, development, class structure, political sociology, nationalism and ethno-national conflict, class/race/gender and comparative-historical sociology. His recent book is America after Empire: The Vision for a New America in the 21st Century (Routledge, 2022).