Abstract

My undergraduate lecture course in economy and society includes a section on the capitalist world system in the twentieth century. The Lenin-Hobson theory of imperialism provides the central issues under discussion in this section. The Lenin-Hobson theory represents Lenin's (1939) Marxist interpretation of Hobson's (1902) liberal critique of imperialism. Now a fundamental of communist theory everywhere, the Lenin-Hobson theory explains imperialism, world wars, and regional conflicts as long-term, international consequences of imbalanced divisions of income in the devel-

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