Lenin Definition Of Capitalism

Lenin called state capitalism one of the principal aspects of the nep.

Lenin definition of capitalism. In march 1918 lenin described state capitalism as just one of five elements in the economy of soviet russia. Hobson s work lenin understood capitalism as world system of unequal development that created the reformist labor aristocracy in industrial countries. Capitalism has grown into a world system of colonial oppression and of the financial strangulation of the overwhelming majority of the population of the world by a handful of advanced countries. And the undeniable service of the class state for national enrichment which exists as capital is settled for him according to the title.

The significance of state capitalism increased enormously with introduction of the nep in march 1921. Lenin also does not deal with the world market together with the developing forms of foreign policy as a consequence of capitalist private property and its advancement by the class state but as a transformation of capitalism.