ABSTRACT
This chapter synthesises the classical theories of imperialism in order to build a comprehensive understanding of old and contemporary characteristics of imperialism. It highlights the misery of classical and post-classical bourgeois economics to understand the real nature and working of capitalism. The chapter conceptualises imperialism as the monopoly stage of capitalism and unfolds the relationship between economics and politics that played an important role in strengthening the foundations of imperialism. For Lenin, imperialism is the monopoly stage of capitalism that is an outcome of certain changes in the characteristics of capitalism. Imperialism can be defined as a stage in the development of capitalism in which several capitalist countries stand against each other to provide the world market to their industrial produce and surplus capital. Along with protectionism, the other phenomenon that was an integral part of the politics of imperialism was militarism.
