A classic 19th-century indictment of imperialism
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J. A. Hobson's critical treatise on the practice of imperialism - whereby countries acquire territories for economic gain - is a classic in its field. This edition includes all of the author's original charts and illustrations.
Published at the opening of the 20th century, while colonial imperialism still held decisive sway as a political and social practice, Hobson's treatise caused shockwaves in economics for its condemnation of a procedure long considered irreproachable.
While Hobson acknowledges that imperialism is often supported by a sense of nationalistic pride and achievement - as with the British Empire's colonial imperialism - he identifies capitalist oligarchy as the true motivation behind imperialistic ventures. Owners of productive capital, such as factories, generate a large surplus which they desire to reinvest in further factories; this prompts imperialist expansion into foreign lands.
The search for productive growth is prompted by the plateau or stagnation of profit in what Hobson terms the 'Mother Country'. By necessity, the flagging system of the market economy is spread to other nations, where it acts to prop up the social and cultural orthodoxy. Hobson posits that were income instead distributed more equally among a population, then the occupation of other nations in search of profit would be unnecessary as a greater number of citizens are able to produce and prosper in and of themselves.
In addition to economic arguments against imperialism, Hobson also identifies the moral failings of the practice. He notes the oppressive and often violent behavior that the imperialist country imposes upon the occupied population, and the rise of feelings of racial superiority through the nationalist ideas that accompany imperialist expansion.
Hobson's treatise would profoundly influence politicians in the UK seeking to reform the capitalist system, with the Liberal Party of the time particularly receptive to his critiques. Notably, Hobson's book also influenced socialist and communist thinkers such as Vladimir Lenin, who adopted many of the criticisms in the book ahead of gaining power in Russia after the First World War.
First published in 1902, Hobson s seminal work was among the first to make the link between political economy and the imperialist expansionism of the advanced capitalist nations at the turn of the 20th Century. A devastating moral critique of the murderous cynicism of imperialism, Hobson s book paved the way for the influential Marxist theories of imperialism advanced by Lenin and Bukharin and others. It provides an invaluable framework for understanding militarism and war in the 21st Century. 'It s a depressing reflection on our condition that J A Hobson s pioneering study of the relationship between finance and empire retains much actuality today, more than a hundred years after it was first published. It is good to have this classic work available again. Nathaniel Mehr s critical introduction admirably situates Imperialism both historically and in relation to the debates it helped to shape among Marxists from Lenin and Bukharin to Harvey and Negri.' Alex Callinicos, Professor of European Studies, King's College London, and author of Imperialism and Global Political Economy. 'Hobson's book remains an indispensable starting point for the understanding of imperialism. Spokesman are to be congratulated for making it available once more.' John Newsinger, author of The Blood Never Dried: A People s History of the British Empire. Hobson's Imperialism belongs to the small group of books in the years from 1900 to the outbreak of war that have definitely changed the contours of social thought.' The Guardian.
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