The book examines imperialism as a phenomenon from both theoretical and historical perspectives. It presents the classical theories of Hobson, Hilferding, Luxemburg, Bukharin and Lenin, highlighting the significance of the transition that took place at the end of the nineteenth century with the emergence of the great imperialist powers. To understand this turning point, it explores the era of pre-capitalist empires and the Age of Discovery, which contributed to the primitive accumulation of capital—a fundamental precondition for the development of capitalism.
The expansion of wage labour, the rise of the nation-state, the spread of the factory system and technological progress led to the dominance of capitalism, first in Britain and then in the other colonial powers. Economic changes and the rise of new powers, such as Germany, Italy, Russia and Japan, contributed to the formation of imperialism and to the conflicts that led to the First World War.
The decisive contribution of the United States to the outcome of the war marked its emergence as a global power. The Second World War was linked to the consequences of the 1929 crisis and the unfulfilled ambitions of the revisionist powers. After the war, the collapse of colonialism was accompanied by a shift towards non-territorial forms of imperialist domination. This marked a turning point in the history of imperialism, which until then had been based on the annexation of territory. This development is of fundamental importance and forms a central part of the book’s argument.
In this new context, the United States asserts its power through military, political, economic and ideological means, without needing to annex territory. However, the development of the capitalist framework it guaranteed helped other states rise and limited US economic power. The crisis of American hegemony was temporarily halted after the fall of the “actually existing socialist” regimes, but resurfaced with the rise of new powers, particularly China, challenging the United States’ longstanding pre-eminence.
