godless red

michael hudson's seminal work, Super Imperialism: The Origin and Fundamentals of U.S. World Dominance that was so clear in describing this era of us-controlled global finance systems that you had imperialists themselves using it as a textbook

(im about halfway through the first part which deals with the us and wwi-wwii history (mostly, how the us refusing to forgive allied debts after wwi and refusing to allow practical ways for the allies to pay the debts off by exporting goods to us markets) caused a circular system of borrowing/speculation and then its spectacular collapse in the form of trade wars and the great depression sowed the seeds for fascism and revanchism)

hudson's primary claim is that imperialism has evolved to a higher form where one singular empire, the american hegemon, by inducing the rest of the world to use its currency and by setting up international monetary institutions in favor of itself is able to do much more in terms of capitalist accumulation and control than multiple empires competing amongst themselves with their own monetary systems. he argues that super-imperialism reverses some of the trends of the leninist definition of imperialism, such as capital flow, also that imperialism is now primarily mediated by inter-governmental debt rather than by private capital

taking a stab at hudson's financial/industrial capitalism categorization is incomplete without addressing the foundation of his claims about us financial capitalism-imperialism imo