Imperialism
The classic 1902 argument that inequality at home drove the scramble for empire abroad.
John A. Hobson’s 1902 study argues that imperialism was driven by money at home. Because wealth was concentrated in few hands, the rich had more capital than the domestic economy could absorb, and they pushed governments to secure new markets and investments abroad. The book shaped debates about empire for decades and influenced Lenin.
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Branko Milanovic
A classic on imperialism, published a hundred years ago. It shows how unequal distribution of income in the metropole implied a high concentration of free (investable) financial capital in the hands of few people, and a drift toward imperialism.
Interview · January 2011
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