In the decades after 1945, as colonial possessions became
independent states, it was widely-believed that imperialism as a
historical phenomenon was coming to an end. The six essays
collected in this volume demonstrate that a new form of imperialism
was, in fact, taking shape-an imperialism defined not by colonial
rule but by the global capitalist market. From the outset, the
dominant power in this imperialism without colonies was the United
States. Magdoff's essays explain how this imperialism works, why it
generates ever greater inequality, repression, and militarism, and
the essential role it plays in the development of U.S. capitalism.
His concluding essay presciently points out the limits of any
attempted reform of the global economy which does not directly
challenge the framework of capitalism. Written in the 1960s and
70s, Magdoff's essays constituted a major contribution to Marxist
theory and provided a model of rigorous argument in which theory is
constantly checked against the economic reality. They provide an
indispensable guide to the basic forces at work in the global
politics of the twenty-first century.
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