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WAPE - Berlin 2018
WAPE - Berlin 2018
Stavros D. Mavroudeas
Professor (Political Economy)
Dept. of Economics
University of Macedonia
156 Egnatia
54006 Thessaloniki
Greece
e-mail: smavro@uom.edu.gr
Main argument of the paper
The theory of Imperialism is the theoretical toolbox through which
Marxism analyses capitalism’s international system.
Its founding block is that capitalism’s international system mirrors its
national system (it is also a system of exploitation): exploitation of less
developed economies by the more developed ones
It is in direct contrast to Mainstream bourgeois views (that capitalism’s
international system is a mechanism mutually beneficial for all its
participants).
The Marxist Theory of Imperialism passed through several phases: from
its birth (early 20th century) to changes of focus (1960s) to rejection
(‘globalization’ era) to rehabilitation (late 20th & early 21st centuries)
This paper disputes several old and new conception of imperialism and
proposes a redefinition of the Theory of Imperialism based on the main
hypotheses of its classical Marxist conception. It additionally suggests
an economic mechanism of imperialism
Structure of the paper
Capitalism’s
international
system
Heterodoxy: Marxism:
Orthodoxy:
Non-beneficial for mid-term Inherently
inherently conflictual and
policy deformations, requires
mutually regulation to become mutually non mutually
beneficial beneficial beneficial
International Economics:
Orthodoxy vs Heterodoxy vs Marxism
The capitalist system from its very birth was a highly international system (proto-
capitalist activities, Mercantilism etc.)
The study of capitalism’s international political-economic system has been a
hot issue
Mercantilist theory during the era of transition to capitalism: this system is a
‘battlefield’ with winners and losers. The rationale behind it: the nascent
capitalist accumulation needed support from abroad (in the sense of trade
surpluses) and also protection from foreign competitors.
Since the solid establishment of capitalism in several pioneering economies
(e.g. Britain) the big majority of the economists changed view: free
international trade is mutually beneficial.
This became the bourgeois Orthodoxy that held almost uninterruptedly since
then.
The motivation behind this: since capitalism was firmly established in some
pioneering countries the latter were not afraid of the competition from less
developed and pre-capitalist economies and, on the contrary, wanted these
economies open to their exports.
International Economics:
Orthodoxy vs Heterodoxy vs Marxism
Heterodoxy:
➢A heresy that shared much common ground with the
Orthodoxy
➢Common argument: for some structural (historically
conjunctural) but not systemic (pertaining to capitalism’s
DNA) reason free international economic activities
become not mutually beneficial. A humane and wise
regulatory management of capitalism’s international
system is required to sav the system from itself.
Exports of capital