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The economic taproot of US Imperialism: the Bush Rentier shift

Seabrooke, Leonard

Description

Over a century ago, John A. Hobson provided a polemic on how social liberal domestic reforms could cure the international disease of imperialism by removing its 'economic taproot'. When read alongside his other works, Hobson saw how state intervention through taxation could boost broader consumption, create wealth, and encourage a peaceful multilateral world order. Conversely, should the state not intervene, rentiers would generate socially negative wealth, or 'illth',that fostered imperialism...[Show more]

dc.contributor.authorSeabrooke, Leonard
dc.date.accessioned2015-12-13T22:52:59Z
dc.date.available2015-12-13T22:52:59Z
dc.identifier.issn1384-5748
dc.identifier.urihttp://hdl.handle.net/1885/81636
dc.description.abstractOver a century ago, John A. Hobson provided a polemic on how social liberal domestic reforms could cure the international disease of imperialism by removing its 'economic taproot'. When read alongside his other works, Hobson saw how state intervention through taxation could boost broader consumption, create wealth, and encourage a peaceful multilateral world order. Conversely, should the state not intervene, rentiers would generate socially negative wealth, or 'illth',that fostered imperialism and protectionism. This article explores Hobson's moral categories for economic action that link taxation, consumption and imperialism, and then applies his arguments to Britain during his lifetime, to the US in the 1965-2000 period and, especially, to contemporary US imperialism under George W. Bush's administration. Hobson's arguments do assist us in understanding the 'economic taproot' of US imperialism, with the conclusion that the US has 'illth at ease' with no means for correction other than Bush's expulsion from office.
dc.publisherPalgrave Macmillan Ltd
dc.sourceInternational Politics: a journal of transnational issues and global problems
dc.subjectKeywords: foreign direct investment; geopolitics; imperialism; political economy; political history; North America; United States 'Rentier shift'; 'Second-image'; Bush administration; Consumption; Economic history; Imperialism; J.A. Hobson; Social liberalism; Taxation; US foreign investment
dc.titleThe economic taproot of US Imperialism: the Bush Rentier shift
dc.typeJournal article
local.description.notesImported from ARIES
local.description.refereedYes
local.identifier.citationvolume41
dc.date.issued2004
local.identifier.absfor149903 - Heterodox Economics
local.identifier.ariespublicationMigratedxPub9925
local.type.statusPublished Version
local.contributor.affiliationSeabrooke, Leonard, College of Asia and the Pacific, ANU
local.bibliographicCitation.issue3
local.bibliographicCitation.startpage293
local.bibliographicCitation.lastpage318
local.identifier.doi10.1057/palgrave.ip.8800081
dc.date.updated2016-02-24T09:49:59Z
local.identifier.scopusID2-s2.0-5444225265
CollectionsANU Research Publications

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