Skip to main content
Work with the NEU
Government spending and debt: a new approach
Introducing a new paper from Rebuild Britain, FAWZI IBRAHIM argues that it is high time for the working class to drop the Labour Party as its vehicle for change, and take economic matters directly into its own hands

IN his book, Imperialism: the Highest Stage of Capitalism, Lenin refers to imperialism as a “special stage,” “a very high stage of development,” “specific historical stage,” “the latest phase” and “the beginning of its transition to socialism.”

Imperialism, writes Lenin, is the stage of capitalism’s development in which “the dominance of monopolies and finance capital is established; in which the export of capital has acquired pronounced importance.”

Rarely does he refer to it as the highest stage — but, given the title of the work, it has invariably been interpreted literally, that capitalism can evolve no further for it has reached its zenith.
 
Whether this is what Lenin intended is irrelevant, for this approach has permeated the communist movement and the left in general, yet it has little Marxist merit. It implies that once that stage is reached (which Lenin dates back to the early 20th century), time stands still, capitalism’s internal contradictions disappear and with them any further evolutionary development. But what happens to the socialist embryo that is born within capitalism? Does that cease to evolve as well?

The 95th Anniversary Appeal
Support the Morning Star
You have reached the free limit.
Subscribe to continue reading.
Similar stories
General view of the Job Centre Plus on Benalder St in Glasgow
Economy / 21 March 2026
21 March 2026

PHILIP ENGLISH says military spending will not create the jobs young people need — instead, build an economy based around needs, not profit

Residents walk through Santa Cruz, Jamaica on Wednesday after Hurricane Melissa passed
Features / 1 November 2025
1 November 2025

Hurricanes might have natural causes but the tragedy that follows is entirely human-made and a consequence of capitalist greed, asserts ROGER McKENZIE

Waspi (Women Against State Pension Inequality) campaigners stage a protest on College Green in Westminster, London, as Chancellor of the Exchequer Rachel Reeves delivers her Budget in the Houses of Parliament, October 30, 2024
Editorial / 16 July 2025
16 July 2025