Letter: Imperialism (2010)

Letter to the Editors from the September 2024 issue of the Socialist Standard

Imperialism

Dear Editors

It was reported on Sunday 11 July 2010 that a boy of seven works a 98-hour week in Delhi to supply products to the British high street chain Poundland.

What is the SPGB position on the conception of imperialism through Lenin, Bukharin and Luxemburg and the idea of an aristocracy of labour?

Wirral Socialists 

(http://www.wirralsocialists.com)

Reply:

We have never accepted the view that a section of the working class in the developed capitalist countries – the so-called “aristocracy of labour” of skilled workers – shares in the proceeds of the exploitation of colonial and now ‘Third World’ countries, The wages paid to skilled workers here reflect the higher quality – due to more education, training and skill – of the labour power they have to sell.

It was only in 1920, in a preface to the French and German editions, of his Imperialism, the Highest Stage of Capitalism that Lenin introduced the idea that a section of the working class in the imperialist countries shared in the booty extracted from capitalists, workers and peasants in the rest of the world. This was to try to secure the support of anti-colonial movements for his beleaguered regime in Russia. It was a political manoeuvre – “workers and colonial peoples unite” – that went against the basic principle of Marxian economics that wages represent the value of the labour-power a worker sells and contain no element of surplus value.

The original 1916 edition of the pamphlet did not contain this. It was a fairly run-of-the-mill analysis of imperialism and colonialism as put forward by Social Democrats of the time: that it was due to the higher profits to be made in the colonies and less developed countries than at home. The only real objection was to its subtitle of “the highest stage of capitalism” since capitalism had been “imperialist” in the 18th century too.

Rosa Luxemburg’s Accumulation of Capital (1912), however, was based on a faulty analysis of capitalism: that it suffered from a chronic shortage of home purchasing power that drove capitalist countries to seek markets outside capitalism, in the less developed parts of the world. Apart from its descriptive parts it is of little value.

The Bolshevik Bukharin’s Imperialism and the World Economy (1916) developed the idea of a single capitalist world economy and anticipated the role that the state was to play in supporting the overseas economic interests (markets, raw material resources, investment outlets, trade routes) of the capitalist firms established within its borders.

All three (and others) were trying to analyse the phenomenon of capitalism coming to dominate the whole world, as it did towards the end of the 19th century, to which the term “imperialism” was given. This was not the best term since imperialism is not something separate from capitalism and all capitalist countries, not just those normally labelled “imperialist”, are prepared to use force to further the vital economic interests of their capitalist class. – Editors.