Abstract
Theories of globalization in the 1990s and theories of ‘new imperialism’ in early 21st century find the ‘classical’ theories of imperialism of the early 20th century, particularly that of Lenin, to be outdated. This article criticizes this assumption, discusses David Harvey's and Ellen Meiksins Wood's important contributions, and argues that Lenin's notion of imperialism as an epoch of capitalist decline is indispensable for any further development of understanding of today's world conditions of crisis and war.
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