This was termed as imperialism by Lenin. Karl Kautsky’s theory of imperialism: Karl Kautsky introduces the term of ultra imperialism, which is in stark contrast with the Marxist Leninist claim of imperialism. As discussed above, Leninist idea suggests that imperialism is the final stage of any capitalist system. In argument with that, Karl Kautsky theorizes the possibility of creating of a cartel which he suggests is another possible step in the evolution of capitalism. Kautsky believes that imperialism is a policy adopted by industrialized states so as to cope with the loss of agrarian traditions in the core.
He identified that for indirect slavery to exist in Europe, in the industries, it was essential for direct, pure slavery to exist in the New World. As seen in the cotton industry, capitalism in agriculture follows development of industry because agriculture profit depends on industrial profit. The influence of capitalism is seen in industry much before it is seen in agriculture. And it is only after capitalism strengthens its hold over industry that the agriculture is forced to transform. It is the “stormy growth” of industry in England that transformed slavery in the United States into a form of commercial exploitation.
As a consequence, Golding and Harriss (1996) claimed ‘‘between the political economic analyses of the postwar globalizing media industries and the more historically grounded discourse analyses of the globalizing myths of modernity remains a space, a historical examination of the practices imperialism institutionalized that carried the social and cultural infrastructure of modernity. In our epoch of high modernity, it has become easier to see imperialism as perhaps the core mover in shaping the world we now inhabit, as a global carrier of the social practices of ‘modernity’ in all its manifestations’’ (p, 50). 1.3. Herbert Schiller’s Theory of Communication and Cultural Domination: Many academics and thinkers give various definitions to the
1. Distinguish between classical political economics and neo- classical economics The study of trade where, there is limited resources is available is called economics and it is divided into two parts: Classical political economics: Classical political economics directly deals with the long run investment in the economy such as development and growth, its original name was economics. Classical political economy was a school of thought which was predominate during the just time before the industrialization and till the middle age of 19th century, before 19th century it was taken over the neo classical school of economics thought. Marx said that the factor which unite the representative of classical political economy into one intellectual
Culture & Imperialism Edward W. Said In this summary the book Culture & Imperialism by Edward W. Said will be discussed. I will examine and state the main ideas posed by Said and discuss those ideas. Focussing on chapter two, titled Consolidated Vision, in which Said examines the various interactions between Culture and Imperialism. Said sees a connection between Western works of Culture and the Imperialistic foreign policies that the West conducted, and perhaps still conducts, in the world. Said explores the relation between Culture and Imperialism, he states that all twentieth-century French and British cultural works refer to their Empires, and therefore investigates cultural works and their connection to Imperialism.
Modernization theory had emerged in the wake of the Second World War as a development theory, which had state-led Keynesian economic principles at its heart. The western world believed that this model would not only be the solution to reconstruct European economies that had been ravaged by neo-classical economic policies in the post-World War I period, but also to bring developing economies at to a western standard. In the 1980s the world had experienced a rebirth of neo-classical economics and the state-led model of development was perceived more as problem than a solution. Nevertheless, with the questioning of the neo-liberal school, modernization theory has again begun to establish itself in today 's scholarship. Introduction "Modernization"
It was “based on process of diffusion of resources, technologies, knowledge and sharing of profit”. The second part builds on the argument that India is the prime mover in structuring the global economic system with its hand-made textiles and knowledge about the production. In particular, it analyses about how Europe came to replace India as the “new global core” by learning the techniques from Asia. This system, according to Riello, was a centripetal one. It was a system characterised by exploitation of resources and profits towards the core.
It was the beginning of the colonial period after the discovery of America at the end of the 15th century, a new phase of globalization and a new period of hardship for Africa. This was the golden age of colonial imperialism. They conquer China, India and other Asian countries at varying levels. The United States of America completed its control of Latin America, thus laying the foundation of the "world-economy", after they occupy Asia and Africa’ countries and the Western conceded at Shanghai in Central China. Henceforth, capitalism and imperialism govern, directly or indirectly, the whole planet and compel their vision and law across, even if, at that time, the colonial powers’ interests already thwarted the general principles of free trade and the law of the market.
Lenin (1917) broadly defines imperialism as the highest form of capitalism. Lenin explains that imperialism was an effort by the "advanced" countries to exert their dominance in the world, and own and control its economic resources and potential. Capitalism made it unviable for the less developed countries to follow the route of the "advanced" countries, as this would lead to competition. The monopoly capitalist nations, therefore, did not have any interest in development. Rather, their investment went into the exploitation of raw materials for their industries.
Physiocrats sects arose as a critique of economic thought Merchantilist. Mercantilists argued that wealth could be beneficial for the country to be strong and prosperous country should be rich, have a lot to have a lot of precious metal. Praklasik sect that is the Merchantilist pioneered by Thomas Mun (1571-1641), Jean Baptiste Colbert (1619-1683). A mercantilist economic policy model with the dominant government intervention, protectionism and colonial politics, aimed at foreign trade balance. Pioneering mercantilist stressed the importance of state power and conquest abroad as the main policies of the economic policy.