Abstract
Following publication of Hilferding's Finance Capital in 1910 and Rosa Luxemburg's Accumulation of Capital in 1913, a clear distinction of emphasis developed among writers on imperialism concerning the relative importance of capital-exports and commodity-exports. Anton Pannekoek thought Hilferding was correct give primary importance capital-exports, and, for that reason, he disputed Luxemburg's thesis that capitalism invariably depended upon commoditysales in third-party markets (chiefly colonies) for the realisation of surplus-value. In the document preceding this one, Ludwig Quessel, a right-wing Social Democrat, also alluded exactly this concern at Chemnitz when he emphasised the need protect German export-opportunities and to stand behind the German government wherever it actually champions the equality of rights for our industry. Keywords:capitalism; Finance Capital; imperialism; Rosa Luxemburg
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