Why did I love this book?
In the build-up to the US invasion of Iraq in 2003, a flurry of books were produced on the ‘new imperialism.’ One of the best was by the Canadian Marxist scholar, the late Ellen Meiksins Wood. What distinguishes capitalist imperialism from its predecessors, Wood argues, “is the predominance of the economic, as distinct from direct ‘extra-economic’—political, military, judicial— coercion.”
By relying on the imperatives of the market, capitalist imperialism has been able to shed most of the visible trappings of older forms of empire, including its network of territorially based colonies overseen by regionally based armies and administrators: “Capitalism has extended the reach of imperial domination far beyond the capacities of direct political rule or colonial occupation, simply by imposing and manipulating the operations of the capitalist market.”
Even though capitalist imperialism relies primarily on market-based coercion rather than the direct use of force to police its interests, Wood is quick to point out that the extra-economic powers of the state remain vital to the maintenance of present-day imperialism: “It would not be too much to say that the state is the only non-economic institution truly indispensable to capital.”
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In this era of globalization, we hear a great deal about a new imperialism and its chief enforcer, the United States. Today, with the US promising an endless war against terrorism and promoting a policy of preemptive defense, this notion seems more plausible than ever.
But what does imperialism mean in the absence of colonial conquest and direct imperial rule? In this lucid and lively book Ellen Meiksins Wood explores the new imperialism against the contrasting background of older forms, from ancient Rome, through medieval Europe, the Arab Muslim world, the Spanish conquests, and the Dutch commercial empire. Tracing the…