ABSTRACT
This chapter broaches the question: is neoextractivism is really ‘new’ or does it merely describe a social phenomenon that becomes manifest at specific historical conjunctures as capitalism changes its form? It argues that the wrong answer to this question could perpetuate a myth and lead to the continuance of misrepresentations and misunderstandings about the role of natural resources extraction in class struggle under capitalism. Neoextractivism is really about generating profit for the extractive capitalists, it is not about working people capturing state power. Thus, if neoextractivism is understood and promoted as progressive, working people could be persuaded to believe that they are in power and do not have to struggle to transform the status quo in natural resources extraction. Undoubtedly, such a posture will serve to maintain the conditions of capitalist exploitation. The correct answer to the question however would lead to clarification of hitherto misunderstood issues concerning capitalist development and natural resources extraction particularly in the periphery, and stimulate working-class struggle for power.
