Abstract
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 This special issue of Monthly Review is meant both to celebrate the fiftieth anniversary of Harry Magdoff's The Age of Imperialism: The Economics of U.S. Foreign Policy, which was devoted to the analysis of imperialism at the height of U.S. hegemony, and to carry this analysis forward to address the present era of late imperialism in the twenty-first century. In bringing together work on the political economy of imperialism in the current era of globalized production, we seek to transcend the now fashionable view within the Western academic left that the concept of imperialism is obsolete. The imperialist world system stands not only for capitalism at its most concrete historical level, but also for the entire dynamic structure of power constituting accumulation on a world scale, which can only be understood in terms of a developing global rift between center and periphery, global North and global South. Failure to attend to this fissure would be fatal for humanity.
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