The Liberal Ideal and the Demons of Empire: Theories of Imperialism from Adam Smith to Lenin

Rating:
Summary: A Timely Book for Current Debates on America's War in Iraq
Review: Excellent! Semmels' 1993 book is a historical overview concerning the origins of theories on imperialism from the time of Adam Smith's 1776 "Wealth of Nations" to J. Schumpeter's 1919 classic "Imperialism and Social Classes", which already demonstrates the outline and shape discussions on imperialism would take into the present. This work is of lasting historical value, there is informed and intelligent discussion on subjects and topics ignored by most other works dealing with the theme of imperialism. Semmels writes of the four major traditions of analysis on imperialism; the classical economists or liberal idealists, the social theorists, the national economists, and the Marxists. Each attempts to explain the phenomena of imperialism along characteristic lines. While evaluating the merit of the views set forth by each school, Semmel is careful to point out how these school borrow from one another in their construction of a "political demonology" of feudal aristocrats, usurious bankers, and industrial capitalists and merchants who push for empire and war. Semmel's conclusion is that the complex phenomena of empire isn't easily explained by any theory that serves a political agenda as much as it tries to explain certain facts. This is a timely work that will add much to intelligent discussions on American foreign policy.