The New Imperialism, p. 35-65

Chapter II: The New Imperialism
imperialism: a special stage in the development of capitalism
a. urgency to develop a world market
b. the struggle to control foreign sources of raw materials
c. the competitive hunt for colonies
d. the tendency toward concentration of capital
e. economic power is controlled by a relatively small number of firms
f. pure science > applied science
g. bicycle, typewriter, cheap paper, ready made clothing were developed
h. steel: steel rails/locomotives could make local industry national
p.36
a. major developments in steel, electricity, industrial chemistry, oil
b. steel> internal combustion engines, electric generators, steam turbines
c. reduced the cost of transportation
d. local businesses became national industries
e. alloys> tool steel, armaments, stainless steel
f. London, Milan, NY:first to have commercial power-1880s
g. industrial chemistry advanced
h. metallurgy: heating metals to give them desired shapes or properties
i. 1860s: structural arrangement of atoms in a molecule
j. sulphuric acid and ammonia could now be mass produced
k. 1870: Standard Oil was founded in Pennsylvania
l. surprising: kerosene lamps & lubricants were the original uses for oil
m. monopolistic trends
n. the rise of big business
o. technology led to concentration of power
p. 1870s: business primarily serviced the agrarian economy
q. 1900s: producers goods were created for use by industry
r. most industries were dominated by a few large enterprises
s. big business was vertically integrated, controlled all elements of the production process
t. Civil War + railroad expansion led to powerful financial institutions
u. Big Business led to many depressions, began 1873
v. raw materials gained a new relevance
w. number of commodities entering world markets increased substantially
x. competition among regions increased dramatically
y. the standard of living for workers depended on overseas supplies imports
z. most of the great mineral bearing locations were discovered

Advance in Ocean Transportation & The World Market
a. raw materials could be transported cheaply
b. metal built steamships were used
c. improved steel boilers in the 1870s
d. trans Atlantic cable began in 1866
e. international banking emerged
f. economic power was concentrated in large business units
g. US, England, Germany, Japan, France, Belgium industrialized quickly
h. a lot of capital was required for large projects
i. protective tariffs became more common
j. a wave of militarization ensued

Imperialism & Colonies
a. capitalism leads to concentration of power in corporations/financial institutions
b. internationalization of capital occurs
c. the urge to dominate became integral

Battle Tactics
a. Gain control of raw materials
b. conquest of foreign markets
c. capitalism requires internationalization to flourish
d. foreign investment is an effective method for the development/protection of foreign markets
e. South Korea had low wages so factories were set up there

Big Business
a. cost advantages
b. exclusive patents
c. superior technology
d. preferred market demand: advertising
e. political influence is used: threats, wars, colonial occupation > privileged trade positions
f. strong governments maintain domination & control over weaker nations

Modern Features Of Imperialism
a. shift: emphasis on rivalry > resistance against capitalist expansion
b. US: organizer/leader of imperialism
c. rise of technology which is international in character
After Russian Rev: part of the world that hadn’t industrialized-capitalists tried to conquer it
d. After WWII: US rebuilt Europe, promoted imperialism
e. the UN, World Bank, and IMF-US exercised leading role
f. economic/military aid came from Washington
g. WWII: US in 39 countries!
h. US occupation rose to 64 then 130
i. US controlled 59% of Middle Eastern oil
j. US owns many space stations
k. television promotes an imperialist culture
l. less raw materials are needed: more efficient technology
m. consumer products are more complex
n.synthetic materials have been developed
o. improved organization of scrap collection/utilization
p. 80 to 90% of aluminum must be imported
q. firms want greater profits over human needs
r. the US imports most of its energy, “have-not” nation
s. ores must be imported
t. WWI: the US became much more dependent on foreign energy supplies
u. many civilian & military devices require imported materials
v. at least 40% of materials must be imported
w. the US protects Western Europe’s and Japan’s energy supplies
x. the Communist bloc had much more natural resources
y. if Communism had spread, the US, Europe & Japan would not have access to the raw materials they wanted

The US as the Leading Capital Exporter
a. the US took over Britain’s markets
b.WWI: US imperialism accelerated
c. concentration of investment in Canada, Latin America, Europe
d. the US controls half of automobile industry in Britain
e. 40% of Germany’s petroleum
f. 40% of telephone, electronic, telegraphic, statistical equipment in France
g. 75% of France’s computing machines
h. the US really dominates Europe with its products