Imperialism: The Highest Stage of Capitalism

Imperialism is the final stage of late capitalism. National and international monopolies and cartels manipulate and control economies, markets, and international relations. Imperialism is characterized by its colonialist designs and its exploitation of colonies and territories—which it divides by force and retains by threat of violence. Under imperialism, the principal export becomes capital, rather than material goods. The centralization and conglomeration of finance capital by banks allows the financial oligarchy to manipulate markets and prices. In theory, this allows unlimited financial gain.

When a market is devoid of genuine competition, this creates a situation where a single supplier or industrial corporation provides a particular good or service. Monopolies allow for price-gouging and exploitation since there is only one source of a necessary or desirable product. When monopolies are created, the balance of power shifts from the consumer and resides completely with the monopoly. The monopoly can set the terms, manipulate the markets, and even create the scarcity of a particular product.

The bourgeoisie is equivalent to the contemporary middle or upper-middle class. Unlike the proletariat, they have wealth and freedom. They are able to benefit from culture and society. The name bourgeoisie comes from older French vernacular burgeis which refers to a walled city, indicating an urban citizen. Within the Marxist system, the bourgeoisie are largely in control of the means of production—capital and land. They are responsible for the oppression and subjugation of the lower classes, the proletariat, who labor for the sake of those in power.