chapter  3
12 Pages

‘Imperialist Rent’ in Practice and Theory

WithAndy Higginbottom

ABSTRACT The article highlights that a notable characteristic of British capitalism is the

concentration on oil and mining corporations alongside banks. The predominance of

extractive industries needs to be explained historically and theoretically. Marx’s concept of

price of production is developed to include additional profits. The theme is explored through

Marx’s own analysis of Ireland exemplifying a distinct path of capitalist underdevelopment,

drawing on the idea of labour super-exploitation pioneered by Marini, and Amin’s ‘mining

rent’. Imperialist rent is derived from extra surplus value. Low paid workers in the South are

no less productive of value than their counterparts in the North, but the value they create is

less rewarded. The conclusion is that effective solidarity requires a reorientation of workers

in the North to support class struggles centred in the South fighting imperialist rent and all

forms of exploitation.