Why capitalism needs imperialism to drain wealth from the Global South

We need to be clear on the impacts of colonial wealth transfers on the Global North, not just the Global South, because it was a two way thing. What was taken from the South is something without which the North would not be what it is today – in fact there would not be an industrial Global North at all.

In this video, Rania Khalek of BT News interviews renowned Marxist Economist Professor Utsa Patnaik, who is co-author of A Theory of Imperialism and the more recent Capital and Imperialism: Theory, History, and the Present. They discuss why capitalism needs imperialism? What is the magnitude of colonial and imperial theft of resources from the Global South? How did global capitalism adapt after World War II and in the neoliberal era? And how is this fueling neo-fascist movements today?

The full video is 1 hr 40 min in length, however, it can be viewed in 20 segments as follows:

Source: BreakThrough News, 16 Nov 2021.

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