Words 1, 1, without footnotes Hobson and Lenin share a critical, socialist account of Imperialism. Both theorists argued that the economic conditions of the capitalist system accounted for Imperialism. However, there are two fundamental disagreements between the two theorists:
Summary[ edit ] In his Prefaces, Lenin states that the First World War — was "an annexationist, predatory, plunderous war"  among empireswhose historical and economic background must be studied "to understand and appraise modern war and modern politics".
In turn, such financial behaviour leads to the division of the world among monopolist business companies and the great powers.
Moreover, in the course of colonizing undeveloped countries, business and government eventually will engage in geopolitical conflict over the economic exploitation of large portions of the geographic world and its populaces.
Therefore, imperialism is the highest advanced stage of capitalism, requiring monopolies of labour and natural-resource exploitation and the exportation of finance capital rather than goods to sustain colonialism, which is an integral function of said economic model.
Theoretical development[ edit ] Lenin's socio—political analysis of empire as the ultimate stage of capitalism derived from Imperialism: A Study by John A.
Hobsonan English economist, and Finance Capital Das Finanzcapital, by Rudolf Hilferdingan Austrian Marxist, whose synthesis Lenin applied to the new geopolitical circumstances of the First World War, wherein capitalist imperial competition had provoked global war among the German Empirethe British Empirethe French Empirethe Tsarist Russian Empireand their respective allies.
Three years earlier, inrival Marxist Karl Kautsky proposed a theory of capitalist coalition, wherein the imperial powers would unite and subsume their nationalist and economic antagonisms to a system of ultra-imperialismwhereby they would jointly effect the colonialist exploitation of the underdeveloped world.
Lenin countered Kautsky by proposing that the balance of power among the imperial capitalist states continually changed, thereby disallowing the political unity of ultra-imperialism, and that such instability motivated competition and conflict, rather than co-operation: Half a century ago, Germany was a miserable, insignificant country, if her capitalist strength is compared with that of the Britain of that time; Japan compared with Russia in the same way.
Is it "conceivable that in ten or twenty years' time the relative strength will have remained unchanged? World-systems theory was developed by the social scientist Immanuel Wallerstein and emphasises world systems of international labourthat divide the world into core countriessemi-periphery countriesand periphery countries.The idea that there is a 'Hobson-Lenin thesis' that emphasizes investment pressure as the cause of late nineteenth-century colonialism has come under sharp attack in .
Imperialism, the Highest Stage of Capitalism (), by Vladimir Lenin, describes the function of financial capital in generating profits from imperialist colonialism as the final stage of capitalist development to ensure greater profits. The essay is a synthesis of Lenin's modifications and developments of economic theories that Karl Marx .
Some scholars, like Eckstein and Fieldhouse have argued that Hobson and Lenin‟s accounts of Imperialism are so similar that they form a shared „Hobson- Lenin‟ thesis.1 However, other scholars, like Stokes and Etherington, argue that the differences between Hobson and Lenin are so deep that “the idea of a shared thesis ought be rejected.
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.
. John A.
Hobson. Imperialism. A Study These extracts from Hobson’s text present his views on the causes of imperialism. For Hobson it is not the search for new markets but the profitable employment of surplus financial resources that is at the basis of the drive to imperialism.
With respect to Hobson’s thesis some points need to be. 7. What reform policies did the Ottoman Turks follow in the 19th century? Why did these policies fail to prevent the political decline and gradual disintegration of the Ottoman empire? Short Answer 8. What were the most important ideas justifying American imperialism?