The New Stage of Capitalist Development and the prospects of globalisation

Dealing with the periodisation and current development of capitalism, this paper starts with a theoretical and historical assessment of imperialism in its Leninist conception. It is argued that the current developments and the rising globalisation of capitalism lead to a dialectical supersession of imperialism. Based on contemporary economic conditions and the current discussion regarding internationalisation / globalisation of capital, it is argued that a new stage in the development of capitalism is currently emerging, which is called transnational or totalitarian capitalism. After analysing the structural characteristics and the basic trends of this new stage of capitalism, an attempt is made to compare this theoretical conception with that of the Empire offered by Hardt & Negri. It is argued that the former approach constitutes a more adequate framework for understanding the current restructuring of capitalism. This approach and Marxian economic theory in general, updated also by some other contributions such as those proposed by the Uno school, can offer a robust theoretical framework for both understanding capitalist developments and prefiguring a prospective socialist society.