The new stage of capitalist development and the prospects of globalization

A historical assessment of the Leninist conception of imperialism is the necessary foundation for a theoretical periodization of capitalism, in which the current developments and rising globalization have led to a dialectical supersession of imperialism. The emerging new stage of capitalism is characterized as transnational or totalitarian capitalism. The structural characteristics and basic trends of this new stage of capitalism stand in interesting contrast to the theoretical conception of Empire, proposed by Hardt and Negri. The former approach offers a more adequate framework for understanding the current restructuring of capitalism and a safer political guide for the emancipating working-class struggle towards a socialist supersession of capitalism.