Book review - Lenin’s ‘Imperialism’ in the 21st century by Mong Palatino

In 1917, Russian communist leader Vladimir Lenin published “Imperialism, the Highest Stage of Capitalism,” which provided the working class with a theoretical tool to understand the capitalist crisis, the great war in Europe, and socialism as a feasible alternative.

Since then, the book has become a standard Marxist reference in analyzing the global economic situation and in particular, the real cause of the recurring social crisis engendered by capitalism.

Its continuing relevance was recently affirmed by Ibon’s Institute of Political Economy which published “Lenin’s ‘Imperialism’ in the 21st Century,” highlighting the contemporary manifestations of imperialism.

Lenin’s thesis on imperialism was applied in assessing the legacy of neoliberalism, rising militarism, rivalry among superpowers, and the prospect of the global socialist movement.

In the book, Antonio Tujan Jr. discussed how imperialist powers led by the United States exploited neocolonial economies. Paul Quintos explained how the financialization of production could lead to war. 

Demba Moussa Dembele linked primitive accumulation in Africa to the rise of colonial capitalist powers. Pao-yu Ching traced the history of Chinese integration in the global economy and its impact on workers. Fred Engst debunked some myths about China’s rise as a superpower and its relationship with the US.

Roland G. Simbulan updated the status of the American military empire and hardware. Pio Verzola Jr. focused on inter-imperialist rivalry and the various proxy wars of the 20th century. 

And finally, Joma Sison gave an overview of the proletarian struggles across the world while emphasizing the superiority of the socialist alternative.

It is instructive that all contributors summarized Lenin’s famous five characteristics of imperialism. More significantly, the contributors updated the features of monopoly capitalism by identifying old and new bubbles such as the tech implosion, the property and housing crisis, and rising debt induced by neoliberal austerity measures.

Lenin expounded his ideas on imperialism by citing economic statistics and other data available during his time. 

Ibon’s book retained this format by supplementing the descriptive text with the latest information on global trade, production, capital investments, military deployment, and the everyday situation of the working classes.

Also useful was the succinct presentation of how Lenin’s ideas on imperialism reflected the earlier works of progressive economists and thinkers.

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Original review on: http://bulatlat.com