“By 1910-14, Hobson had drifted far from the arguments of Imperialism: A Study and was now writing of imperialism as a phase in the extension of a benign, global capitalist network and one that would eventually lead to an economic convergence between the developed and underdeveloped worlds, to world peace and eventually to some form of world government.”

— Peter Cain

Source: J. A. Hobson's Imperialism: A Study: A Centennial Retrospective (2002), p. 3.

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Peter Cain 8

figure skater 1958

Walter Rodney book How Europe Underdeveloped Africa

Source: How Europe Underdeveloped Africa (1972), p. 253

“In 1938 and at the age of eighty, Hobson decided to republish Imperialism: A Study. By the late 1930s, public opinion was becoming much more critical of empire and imperialism: one prominent imperial historian of the time, W. K. Hancock, wrote that 'to… an increasing proportion of the ordinary public the "imperialist" is a robber and a bully'. Under growing Marxist influence there was also an increasing tendency to offer economic interpretations of imperial expansion and control. Encouraged by these trends and convinced that the looming conflict between Britain and France on the one side, and Germany, Italy and Japan on the other, was basically an attempt to re-divide the imperial spoils, Hobson decided that his ancient text was worth reprinting. But in republishing it, and despite adding a long preface, Hobson gave no indication that he had ever held different views.”

Peter Cain (1958) figure skater

Source: J. A. Hobson's Imperialism: A Study: A Centennial Retrospective (2002), p. 3.

“We must now try to sum up, to draw together the threads of what has been said above on the subject of imperialism. Imperialism emerged as the development and direct continuation of the fundamental characteristics of capitalism in general. But capitalism only became capitalist imperialism at a definite and very high stage of its development, when certain of its fundamental characteristics began to change into their opposites, when the features of the epoch of transition from capitalism to a higher social and economic system had taken shape and revealed themselves in all spheres. Economically, the main thing in this process is the displacement of capitalist free competition by capitalist monopoly.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

Source: Imperialism, The Highest Stage of Capitalism (1917), Chapter Seven

“The road must eventually lead to the whole world.”

Jack Kerouac book On the Road

Source: On the Road

“However, in that autobiography Hobson did confess that he now thought that the emphasis on economic causation in Imperialism: A Study was overdone and that more emphasis should have been placed on the 'lust for power' with economic gains seen as a means of exercising power rather an end in themselves.”

Peter Cain (1958) figure skater

Source: J. A. Hobson's Imperialism: A Study: A Centennial Retrospective (2002), p. 3-4.

“For the capitalist world-economy, the problem of China lies with its huge size. China has a labor force that is larger than the total labor force in all of the core states, or that in the entire historical well0to-do semi-periphery. As China competes with the well-to-do semi peripheral states in a wide range of global commodity chains, the competition eventually would lead to the convergence between China and the historical well-to-do semi-peripheral sates in profit races and wage rates. This convergence may take place in an upward manner or a downward manner.”

Li Minqi (1969) Chinese economist

Source: The Rise of China and the Demise of the Capitalist World-Economy (2008), Chapter Two, "Accumulation, Basic Needs, and Class Struggle: the Rise of Modern China"