[OPE-L:6602] Re: Imperialism -- Then and Now

From: dashyaf@easynet.co.uk
Date: Sat Feb 16 2002 - 06:56:17 EST

Paul and Gerry,
At 09:23 15/02/02 -0500, gerald_a_levy wrote:
>Re Paul C's [6576]:
> > 1. There are substantial empirical inaccuracies with regard to the export
> > of  capital in the standard Leninist theory as applied to British
> > imperialism in the first half of the 20th century in that the UK
> > was not a net capital exporter.

The evidence I have in my article in the  period before the First 
Imperialist War supports Lenin's position - see FRFI 162, The labour 
aristocracy and imperialism part 2. Between the wars takes us in a 
different situation where the Empire was critical for Britain's survival as 
an imperialist power. Again after the Second World War, Britain brutally 
exploited the Empire and other areas of the underdeveloped world to rebuild 
itself as an imperialist power, second only to the US. The post-war boom is 
a unique period and needs examining in some detail. From the late 1970s 
onwards Britain began to export capital on an enormous scale - in 1993 
capital exports (direct and portfolio) excluding financial capital were 
greater than the total gross investment in Britain for the first time since 
before 1914 and this was repeated in 1999 and 2000. This information is 
readily available.

David Yaffe

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