ABSTRACT
The imperialist phase of capitalist accumulation which implies uni-
versal competition comprises the industrialisation and capitalist eman-
cipation of the hinterland where capital formerly realised its surplus
value. Characteristic of this phase are: lending abroad, railroad con-
structions, revolutions, and wars. The last decade, from 1900 to 1910,
shows in particular the world-wide movement of capital, especially in
Asia and neighbouring Europe: in Russia, Turkey, Persia, India, Japan,
China, and also in North Africa. Just as the substitution of commodity
economy for a natural economy and that of capitalist production for a
simple commodity production was achieved by wars, social crises and
the destruction of entire social systems, so at present the achievement
of capitalist autonomy in the hinterland and backward colonies is
attained amidst wars and revolutions. Revolution is an essential for the
process of capitalist emancipation. The backward communities must
shed their obsolete political organisations, relics of natural and simple
commodity economy, and create a modern state machinery adapted
to the purposes of capitalist production. The revolutions in Turkey,
Russia, and China fall under this heading. The last two, in particular, do
not exclusively serve the immediate political requirements of capitalism;
to some extent they carry over outmoded pre-capitalist claims while on
the other hand they already embody new conflicts which run counter
to the domination of capital. These factors account for their immense
drive, but at the same time impede and delay the ultimate victory of the
revolutionary forces. A young state will usually sever the leading strings
of older capitalist states by wars, which temper and test the modern
state’s capitalist independence in a baptism by fire. That is why military
together with financial reforms invariably herald the bid for economic
independence.
