Lenenden's Theory of Capitalism

The old capitalism, which reigned before the development of monopoly capitalism, was premised on the export of goods. Once monopoly capitalism developed and gave rise to a financial oligarchy, the big banks and monopolistic business associations associated with them began to invest money into other countries. This is a new stage of world concentration of capital and production incomparably higher than the preceding stages. So here we see that the underlying basis of dividing the world up economically by international monopolies directly gives rise to the dividing up of the world politically by imperialist nation states.