Notes on Contemporary Imperialism Prabhat Patnaik

Delineating the different phases of imperialism, the author argues that the present phase of modern imperialism is marked by the hegemony of international finance capital, which is the driving force behind the phenomenon of globalization, and the pursuit of neo-liberal policies. The neo-liberal regime imposed upon the world entails a number of serious contradictions which bring the system to an impasse. Given that the nature of the crisis differs somewhat between the first and the third worlds, the struggle against imperialist globalization must take diverse forms in diverse regions.

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