From Empire to Neoliberalism – The Long Arc of Capital and the Cannibalisation of the West
Explaining HistoryShow Notes
In this episode of the Explaining History Podcast, we step back from the specific history of Congo to examine the broader theoretical framework of neocolonialism – and how the decline of formal empire prepared the ground for the neoliberal revolution.
Drawing on thinkers from Marx and Lenin to J.A. Hobson and Rosa Luxemburg, we explore the purpose of empire from the perspective of capital: the pursuit of cheap resources, cheap labour, and captive markets. Britain's transformation from a middling European kingdom to a global superpower was built on the extraction of wealth from its colonies – from the opium trade with China to the slave‑based sugar and cotton economies to the systematic deindustrialisation of India.
But what happens when empire becomes unsustainable? In India, the British lost control of the Indian Army in 1946, and with it, their ability to monopolise armed force. By the 1950s and 60s, most of Britain's African colonies were gone. Yet the flow of wealth from the Global South to the City of London did not stop. It continued through neocolonialism – debt, the Bretton Woods institutions, corporate infiltration, and support for pliant regimes.
And then came neoliberalism. As the returns from empire declined, capitalist elites in the Global North turned inward, cannibalising their own societies through privatisation, the erosion of welfare states, and the breaking of organised labour. The neoliberal revolution was, in part, a response to the crisis of empire – a way to maintain elite wealth and power when the old imperial structures could no longer deliver.
We also consider the explicitly colonial and eugenic thinking of some neoliberal architects, and the destructive consequences of imposing market logic on societies with no history of it. From the mass unemployment of Thatcher's Britain to the ongoing exploitation of Africa, the arc of capital bends towards extraction – and the people always pay the price.
Topics covered: Marxist and liberal theories of imperialism (Hobson, Lenin, Luxemburg) Britain's transition from formal empire to neocolonialism The loss of control over the Indian Army in 1946 The Bretton Woods institutions and the weaponisation of debt Neoliberalism as a response to the decline of empire The cannibalisation of Western welfare states The role of organised labour and the defeat of the miners The eugenic and colonial thinking of neoliberal theorists If you enjoy the podcast, please consider supporting us – we are migrating from Patreon to Substack. Details in the show notes. Explaining History helps you understand the 20th Century through critical conversations and expert interviews. We connect the past to the present. If you enjoy the show, please subscribe and share. ▸ Support the Show & Get Exclusive Content Become a Patron: patreon.com/explaininghistory ▸ Join the Community & Continue the Conversation Facebook Group: facebook.com/groups/ExplainingHistoryPodcast Substack: theexplaininghistorypodcast.substack.com ▸ Read Articles & Go Deeper Website: explaininghistory.org
Hosted on Acast. See acast.com/privacy for more information.
More from Explaining History
In this episode of The Explaining History Podcast, historian Ewan Gibbs joins us again to talk about his new book An Injury to All: The Unmaking of the British Working Class. We discuss the nature of class identity and allegiance in the 20th Century, the almost hegemonic denial of class as a poltiical and historic force in Blair's late 1990s Britain and the effect of mass affluence, home ownership, changing work and aspirations on class identity. We also explore the return of class to the debate, particularly where it has been weaponised by the far right. Explaining History helps you understand the 20th Century through critical conversations and expert interviews. We connect the past to the present. If you enjoy the show, please subscribe and share. ▸ Support the Show & Get Exclusive Content Become a Patron: patreon.com/explaininghistory ▸ Join the Community & Continue the Conversation Facebook Group: facebook.com/groups/ExplainingHistoryPodcast Substack: theexplaininghistorypodcast.substack.com ▸ Read Articles & Go Deeper Website: explaininghistory.org
In this episode of the Explaining History Podcast, we are joined by Sam Parry of Cardiff Metropolitan University to discuss the concept of stateless nations – nations that have not achieved nation-state status for complex historical reasons.
In this episode of the Explaining History Podcast, we return to Keith Jeffery's official history of MI6 to examine a question that gets to the heart of how the secret state was built: who became a spy, and why?
China’s war against Japan was one of the largest, bloodiest and most consequential theatres of the Second World War — yet it is still too often treated as peripheral to the wider conflict.
In this solo episode of the Explaining History Podcast, we examine the American withdrawal from Iraq – the product of Trump's war with Iran, and a strategic defeat of historic proportions. Iraq has been enormously important to the United States since the end of the Cold War. It has served multiple strategic, foreign policy and domestic purposes. Its loss – the effective expulsion of American power from the country – is an epic disaster unfolding in slow motion. It doesn't look like the British retreat from Afghanistan in the 1840s, but it is a catastrophe nonetheless. The war against Iran has achieved the opposite of everything it intended. It has cost America its bases in the Persian Gulf. It has empowered the Houthi rebels in Yemen and threatened control of the Red Sea. It has surrendered the Straits of Hormuz. It has alienated the Gulf states and the Saudis. And now it has forced a strategic withdrawal from Iraq. We trace the long history of American involvement in Iraq – from the use of Saddam Hussein as a bulwark against revolutionary Iran and the Soviet Union, through the first Gulf War and the brutal sanctions regime that followed, to the catastrophic invasion of 2003. We examine the decision not to overthrow Saddam in 1991, the disbandment of the Iraqi army, the failure to understand Iraq's ethnic and religious divisions, and the looting of the National Museum – met with Rumsfeld's infamous remark that "freedom is messy." Drawing on John Gray's critique of liberal interventionism, we consider the argument that there are things worse than tyranny – and that what replaced Saddam's Leviathan was anarchy, a condition that elements of the American right seemed actively to welcome. The withdrawal from Iraq is not the orderly dismantling of empire. It is a rout – and what replaces American influence will almost certainly be Iranian. Trump has defeated his own country. Topics covered: The American withdrawal from Iraq The war against Iran and its strategic consequences Iraq as a Cold War client state The first Gulf War and the sanctions regime The 2003 invasion and its catastrophic aftermath The disbandment of the Iraqi army The looting of the National Museum John Gray on tyranny and anarchy The rise of Iranian influence in Iraq If you enjoy the podcast, please consider supporting us – we are migrating from Patreon to Substack. Details in the show notes. Explaining History helps you understand the 20th Century through critical conversations and expert interviews. We connect the past to the present. If you enjoy the show, please subscribe and share. ▸ Support the Show & Get Exclusive Content Become a Patron: patreon.com/explaininghistory ▸ Join the Community & Continue the Conversation Facebook Group: facebook.com/groups/ExplainingHistoryPodcast Substack: theexplaininghistorypodcast.substack.com ▸ Read Articles & Go Deeper Website: explaininghistory.org