Socialist Tradition

Chapter 17. Lenin

‘ 1.  The concentration of production and capital, developed to such a high stage that it has created monopolies which play a decisive rôle in economic life.

2.  The merging of bank capital with industrial capital and the creation, on the basis of this ‘finance capital,’ of a financial oligarchy.

3.  The export of capital, as distinguished from the export of commodities, becomes of particularly great importance.

4.  International monopoly combines of capitalists are formed which divide up the world.

5.  The territorial division of the world by the greatest capitalist powers is completed.’

Accordingly, this definition is offered: ‘Imperialism is capitalism in that stage of development in which the domination of monopolies and finance capital has taken shape; in which the export of capital has acquired pronounced importance; in which the division of the world by the international trusts has begun, and in which the partition of all the territory of the earth by the greatest capitalist countries has been completed’ (Imperialism, p. 81 (L.L.L. No. 15)).

(2) It is necessary to gather a great preponderance of forces in a decisive place at a decisive moment, otherwise the enemy, being better prepared and organized, will annihilate the insurgents....

(4) One must strive to take the enemy by surprise, to take advantage of a moment when his troops are scattered’ (Official Biography of Lenin, p. 125).