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Zhang Yan: Imperialism is the Highest Stage of Capitalism has triple epochal significance

09:05, March 16, 2021 Source: People's Daily Online - CPC News Network

China Communist Party News Network, Beijing, March 16 (Cao Miao) Recently, the eleventh lecture in the series of "Reviewing Marxist Classics" of the reading activity "Strengthening Quality and Setting an Example" of the central and state organs was launched, inviting Zhang Yan, a professor of the School of Marxism of the Central Party School (National School of Administration), With the theme of "deepening the understanding of the laws of profound and complex changes in capitalism and international political and economic relations", guide the reading of "Imperialism is the highest stage of capitalism".

For the epochal significance of "Imperialism is the highest stage of capitalism", Zhang Yan summarized the following three aspects:

First, Lenin's research on capitalism is a significant development of Marxist political economy, and has great theoretical and practical significance for the analysis and study of contemporary capitalism. Marx's era is the era of free competition capitalism. Lenin started from the basic principles of Marxist political economy, according to the changed situation in reality, on the basis of a large number of empirical materials, through in-depth analysis and research, put forward the scientific judgment that capitalism has entered the monopoly stage. This is the further application and development of Das Kapital, and has a significant guiding role in the study of contemporary capitalism.

Second, Lenin accurately revealed the core position of financial capital in contemporary capitalism. Until today, Lenin's theory on financial capital has a prominent enlightenment significance for understanding the new changes of contemporary capitalism and grasping the key features of contemporary capitalism. Globalization has brought about the integration of the world economy, formed the world market, and there have been world-class financial oligarchs and chaebols. Giant transnational corporations with increasingly strong financial attributes have spread all over the world. International capital markets have emerged on the basis of the domestic capital markets of various countries, and capital flows at a high speed worldwide. On the one hand, finance, instead of traditional means such as territorial occupation and product trade exploitation, has become the main way for international monopoly capital to obtain huge profits, and has also become one of the most powerful ways of foreign attack; On the other hand, financial crisis has become the main manifestation of capitalist crisis. The economic crisis of capitalism is mainly manifested in the economic crisis of overproduction, and now it is mainly manifested in the worldwide financial crisis.

Third, Lenin's judgment on the historical status of imperialism helps us to view history scientifically. In terms of the historical evolution and future trend of capitalism, the rapid development of modern new scientific and technological revolution, the new transformation of industrial structure and employment structure, and the transformation from industrial economy to information economy show that the capitalist system still has its own buffer space for transition and has certain vitality. Despite many major crises, capitalism has repeatedly escaped from crises, which shows that capitalism has a relatively complete set of self adjustment and crisis response mechanisms, reflecting that the capitalist system has greater room for manoeuvre and institutional flexibility. However, with the continuous development of socialization of production and the sharp contradiction of private possession, many serious social contradictions based on this basic contradiction have become increasingly prominent. These contradictions cannot be solved under the premise of capitalism. Capitalism will eventually be replaced by socialism, which is still an objective law that is not transferred by human will.

(Editor in charge: Cao Miao, Deng Zhihui)
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