Steven's point is very important --- every "refutation" I have heard to Lenin's theory in a number of different classes in both my undergraduate AND my graduate education emphasized that capital export went mostly to "other" advanced countries --- and that was also true about goods exporting as well --- the "vent for surplus" role for international trade also utilized other advanced countries for obvious reasons -- they were where the consumers were --- and as Steven points out, capital exports found good returns by going to fast growing already developed countries.
My argument was always that the NATURE of capital exports to "underdeveloped" countries helped create the lopsided economies that we later began to study to figure out "what's wrong with 'these people' [!!]" --- when in fact what was wrong was they were subjected to forms of imperial control -- either directly as colonies (INDIA) or indirectly as part of an informal empire ---Brazil, Chile, Argentina in the 19th century and Cuba for most of the 20th century. On Mon, Jan 6, 2025 at 6:29 AM stevencolatrella via groups.io <[email protected]> wrote: > It's true that Lenin saw the export of capital as a central aspect of > imperialism. A weakness of his analysis is not theoretical, but > empirical - the lion's share of European capital invested overseas went, > of course to where profit rates were highest, namely to the United > States, not to colonized countries. The railroads, steel industry and > more were financed by foreign capital, leading to the US becoming the > leading industrial power by World War One. > _._,_._,_ > > -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#34417): https://groups.io/g/marxmail/message/34417 Mute This Topic: https://groups.io/mt/110435583/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
