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dissertation, University of Cambridge, 1970. Geary, ‘Karl Kautsky and the Development of Marxism’, unpublished Ph.D. 131–2.īernstein, Zur Geschichte und Theorie des Sozialismus (Berlin: Akademischer Verlag für Soziale Wissenschaften Dr John Edelheim, 1901) pp. Salvadori, Karl Kautsky and the Socialist Revolution 1880–1938 (London: New Left Books, 1979) pp. Bernstein, ‘Die Internationale Politik der Sozialdemokratie’, Sozialistische Monatshefte 10, 1909, pp. Fletcher, Revisionism and Empire: Socialist Imperialism in Germany, 1897–1914 (London: Allen & Unwin, 1984).Į. Marxism in Marx’s Day (Hassocks: Harvester Press, 1982) pp. Hobsbawm, ‘The Fortunes of Marx’s and Engels’s Writings’, in Hobsbawm (ed.) The History of Marxism: Volume I. King, The Political Economy of Marx (Harlow: Longman, 1985).Į. Taylor, The Struggle for Mastery in Europe 1848–1918 (Oxford: Clarendon Press, 1954) pp.

Barratt Brown, The Economics of Imperialism (Harmonds-worth: Penguin, 1974) pp. Hobsbawm, Industry and Empire (London: Weidenfeld & Nicolson, 1977) pp.

How far this amounted to a distinct new stage of capitalist development remains controversial, for there had always been elements of monopoly in capitalist economies and the fastest growth in both commodity and capital exports came before rather than after 1875, while the ‘imperialism of free trade’ had allowed Britain (especially) to expand its formal and informal empire throughout the nineteenth century. This was accompanied by the exportation of capital on a gigantic scale, increasing the overseas assets of the European countries from $6.5 billion in 1874 to $44.0 billion in 1913, and by the frantic acquisition of colonies in the ‘Scramble for Africa’ and elsewhere. World trade continued to grow more rapidly than industrial output, and between 18 there was a massive migration of people from Europe to the newly-settled areas of North and South America, Australia and South Africa. Whereas the late 1860s witnessed the closest ever approximation to universal free trade, the trend thereafter was towards increased protectionism, together with growing monopolisation primarily through the establishment of trusts and cartels. The final quarter of the nineteenth century saw a number of important changes in the world capitalist economy and in the political relations between the Great Powers.

Das Finanzkapital by Peter Decker