Nèdeem Elmahjoub's blog

To say . . . that wars are caused by the ammunition industry, would be a cheap assertion. The ammunition industry is by no means a branch of production existing for itself, it is not an artificially created evil which in turn calls forth the ‘battle of nations’. It ought to be obvious . . . that armaments are an indispensable attribute of state power, an attribute that has a very definite function in the struggle among state capitalist trusts. . . . [J]ust as it is true that not low prices cause competition but, on the contrary, competition causes low prices, it is equally true that not the existence of arms is the prime cause and the moving force in wars . . . but, on the contrary, the inevitableness of economic conflicts conditions the existence of arms. —Nicolai Bukharin,  Imperialism and World Economy

The unsevered umbilical cord that leaves large swathes of the Global South economically reliant on their old colonial powers, even after formally attaining national independence, is the  structural dependence  of these peripheral states on foreign credit and investment, which has long been provided to them by private banks, international investors and financial institutions in the advanced capitalist countries. Subjecting the nature of this structural dependence to closer theoretical and empirical scrutiny may therefore allow us to approach the problems faced by “the new debt colonies” from a somewhat different angle, enabling us to better understand the more subtle contemporary forms of financial subjugation operating at the structural and institutional level that serve to reproduce these deeply entrenched international power asymmetries over time, even in the absence of territorial control or outright military intervention. The New Debt Colonies should be read along with Imperial

Assessing Trotsky