Table Of Content‘The Changing Face of Imperialism combines the analyses from a set
of most competent Indian thinkers. An enlightening collection which
simultaneously reminds the reader of the continuities of that major
facet of capitalism through the successive phases of its global deploy-
ment and gives its full importance to the changes associated with the
dominance of contemporary finance capital. An essential reading to
understand the challenges of our time.’
Samir Amin, Director, Third World Forum, Dakar
and former Director, Institut Africain de Développement
Économique et de Planification (IDEP) and Professor
at the Universities of Poitiers, Dakar and Paris
‘A very timely volume which going against the current forcefully
reminds us that imperialist surplus appropriation continues to occur
in the contemporary world though formal colonies are long gone. The
authors of this volume are globally renowned specialists in their respec-
tive areas and the volume has successfully brought them together to
make an important common point.’
Aditya Mukherjee, Professor of Modern History,
Jawaharlal Nehru University, New Delhi, India
The Changing Face
of Imperialism
This volume reiterates the relevance of imperialism in the present, as
a continuous arrangement, from the early years of empire-colonies to
the prevailing pattern of expropriation across the globe. While impe-
rialism as an arrangement of exploitation has sustained over ages,
measures deployed to achieve the goals have gone through variations,
depending on the network of the prevailing power structure. Provid-
ing a historical as well as a conceptual account of imperialism in its
‘classical’ context, this collection brings to the fore an underlying unity
which runs across the diverse pattern of imperialist order over time.
Dealing with theory, the past and the contemporary, the study con-
cludes by delving into the current conjuncture in countries including
Latin America, the United States and Asia.
The Changing Face of Imperialism will provide fresh ideas for future
research into the shifting patterns of expropriation – spanning the early
years of sea-borne plunder and the empire-colonies of nineteenth-
century to contemporary capitalism, which is rooted in neoliberalism,
globalization and free market ideology.
With contributions from major experts in the field, this book will
be a significant intervention. It will be of interest to scholars and
researchers of economics, politics, sociology and history, especially
those dealing with imperial history and colonialism.
Sunanda Sen is former Professor of Economics, Jawaharlal Nehru
University, New Delhi, India. She researches contemporary capitalism,
international finance, economic history and development. Her pub-
lications include over 70 articles in reputed journals and ten books,
including Dominant Finance and Stagnant Economy (2014), Globali-
sation and Development (2008, 2013) and Unfreedom and Waged
Work (with Byasdeb Dasgupta, 2009).
Maria Cristina Marcuzzo is Professor of Economics, University of
Rome, ‘La Sapienza’, Italy, and Fellow of the Italian Academy of
Lincei. She has worked on classical monetary theory, the Cambridge
School of Economics, Keynesian economics and, more recently, on
Keynes’s investments in financial markets. She has published about
100 articles in journals and books, and authored/edited 20 volumes.
The Changing Face
of Imperialism
Colonialism to Contemporary
Capitalism
Edited by
Sunanda Sen and
Maria Cristina Marcuzzo
First edition published 2018
by Routledge
2 Park Square, Milton Park, Abingdon, Oxon, OX14 4RN
and by Routledge
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Routledge is an imprint of the Taylor & Francis Group, an informa business
© 2018 selection and editorial matter, Sunanda Sen and Maria
Cristina Marcuzzo; individual chapters, the contributors
The right of Sunanda Sen and Maria Cristina Marcuzzo to
be identified as the authors of the editorial material, and of
the authors for their individual chapters, has been asserted in
accordance with sections 77 and 78 of the Copyright, Designs
and Patents Act 1988.
All rights reserved. No part of this book may be reprinted
or reproduced or utilised in any form or by any electronic,
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invented, including photocopying and recording, or in any
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Trademark notice: Product or corporate names may be
trademarks or registered trademarks, and are used only for
identification and explanation without intent to infringe.
British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library
Library of Congress Cataloging-in-Publication Data
A catalog record for this book has been requested
ISBN: 978-1-138-08271-7 (hbk)
ISBN: 978-1-351-18481-6 (ebk)
Typeset in Sabon
by Apex CoVantage, LLC
Contents
List of figures x
List of tables xii
Notes on contributors xv
Preface xvii
Introduction 1
SUNANDA SEN AND MARIA CRISTINA MARCUZZO
PART I
The conceptual basis of imperialism 13
1 Imperialism, the ‘old’ and the ‘new’: departures
and continuities 15
SATYAKI ROY
2 Marx’s Capital and the global crisis 37
JOHN SMITH
3 Reflections on contemporary imperialism 61
PRABHAT PATNAIK
4 The particularity of imperialism in the stage of
neoliberal globalisation and global capitalism:
a dialogue between Nikolai Bukharin and Aimé Césaire 78
ANJAN CHAKRABARTI
5 Is imperialism a relevant concept in today’s world? 104
SUBHANIL CHOWDHURY
viii Contents
PART II
Patterns of contemporary imperialism 129
6 Latin America in the new international order:
new forms of economic organisations and old
forms of surplus appropriation 131
NOEMI LEVY ORLIK
7 Latin America and imperialism 160
AMIYA KUMAR BAGCHI
8 Did US workers gain from US imperialism (1985–2000)? 171
GERALD EPSTEIN
PART III
Imperialism and the colonial context 199
9 India’s global trade and Britain’s international dominance 201
UTSA PATNAIK
10 Unrequited exports of labour from India in
late-nineteenth and early-twentieth centuries:
Britain’s financial interest in plantation colonies 226
SUNANDA SEN
11 Labour laws and the global economy: the discourse of
labour control and welfare in India, 1919–1947 247
SABYASACHI BHATTACHARYA
PART IV
Contemporary capitalism and the Indian economy 265
12 Financialisation in contemporary capitalism: an
inter-sectoral approach to trace sources of instability
in finance, real estate and business services in India 267
SUKANYA BOSE AND ABHISHEK KUMAR
Contents ix
13 Contemporary imperialism and labour: an analytical note 295
BYASDEB DASGUPTA
14 ‘Emerging’ Third World capitalism and the new
imperialism: the case of India 310
SURAJIT MAZUMDAR
Index 331
