Imperialism and decline: Britain in the 1980s

This article examines the international movement of British capital in an attempt to assess the strengths and weaknesses of Britain as an imperialist power. Based on a Leninist concept of imperialism as the capital export phase of capitalism, it argues that the decline in the UK's industrial base, the flight of British capital to Europe and the United States and the involvement of foreign investment in the restructuring of the UK economy are all facets of the continuing imperialist role of British capital and the British state. The response of the labour movement and socialists should be premised on a recognition of how the working class is also being restructured, and strategies and policies should be reformulated to encompass the changing reality, both internally and internationally.