MIA: Encyclopedia of Marxism: Glossary of Terms



Immediate knowledge

Knowledge gained without proof, by a direct contemplation of truth, as distinct from discursive knowledge (mediated knowledge) which is always mediated by the data of experience and by logical reasoning. Immediate knowledge may be sensuous experience or a priori, intuitive knowledge.



An advanced stage of capitalism, attained by some nations in the 20th-century.

The epoch of imperialism opens when the expansion of colonialism has covered the globe and no new colonies can be acquired by the great powers except by taking them from each other, and the concentration of capital has grown to a point where finance capital becomes dominant over industrial capital. Lenin enumerated the following five features characteristic of the epoch of imperialism:

(1) the concentration of production and capital has developed to such a high stage that it has created monopolies which play a decisive role in economic life; (2) the merging of bank capital with industrial capital, and the creation on the basis of this “finance capital”, of a financial oligarchy; (3) the export of capital as distinguished from the export of commodities acquires exceptional importance; (4) the formation of international monopoly capitalist associations which share the world among themselves, and (5) the territorial division of the whole world among the biggest capitalist powers is completed. Imperialism is capitalism at that stage of development at which the dominance of monopolies and finance capital is established; in which the export of capital has acquired pronounced importance; in which the division of the world among the international trusts has begun, in which the division of all territories of the globe among the biggest capitalist powers has been completed.
[Lenin, Imperialism the Highest Stage of Capitalism, LCW Volume 22, p. 266-7.]

"The development of capitalism has arrived at a stage when, although commodity production still "reigns" and continues to be regarded as the basis of economic life, it has in reality been undermined and the bulk of the profits go to the "geniuses" of financial manipulation. At the basis of these manipulations and swindles lies socialized production; but the immense progress of mankind, which achieved this socialization, goes to benefit... the speculators." (p. 206-207)

The surplus capital of these corporations, which arose from the exploitation of Labour, is exported to less developed countries where capital is more scarce, the price of land lower, wages lower, and raw materials cheaper; all resulting in a widening of profit margins. Capitalists need to export capital because in the most developed countries capitalism has become "overripe", the working class consciousness too advanced for heavy exploitation (i.e. huge profit margins), and while finance capital has a breeding ground for growth, productive capital (computer and clothing factories, etc) can be much more profitable elsewhere.

Thus, the history of capitalism generally begins with free competition; i.e. petty-bourgeois production), which naturally progresses to a concentration of production (bourgeois production), which continually strive towards monopolies (socialized production). Monopolies, being so contrary to the foundations of capitalism, are the greatest contradiction of capitalism, a contradiction rampant in the imperialist stage – for every business not only strives toward, but needs to dominate markets completely, to become a monopoly, while government must do everything it can to prevent this in order to survive, realising this social form of production ultimately destroys the capitalist system.

"[Imperialism] is something quite different from the old free competition between manufacturers, scattered and out of touch with one another, and producing for an unknown market. Concentration [of production] has reached the point at which it is possible to make an approximate estimate of all sources of raw materials (for example, the iron ore deposits)... [throughout] the whole world. Not only are such estimates made, but these sources are captured by gigantic monopolist associations [now called multi-national conglomerates]. An approximate estimate of the capacity of markets is also made, and the associations "divide" them up amongst themselves by agreement. Skilled labor is monopolized, the best engineers are engaged; the means of transport are captured – railways in America, shipping companies in Europe and America. Capitalism in its imperialist stage leads directly to the most comprehensive socialization of production; it, so to speak, drags the capitalists, against their will and consciousness, into some sort of a new social order, a transitional one from complete free competition to complete socialization.

"Production becomes social, but appropriation remains private. The social means of production remain the private property of a few. The general framework of formally recognized free competition remains, and the yoke of a few monopolists on the rest of the population becomes a hundred times heavier, more burdensome and intolerable." (p. 205)

Vladimir Lenin
Imperialism: The Highest Stage of Capitalism


Impossibilism means the advocacy of a purist doctrine of socialism from which it can only be concluded that socialism is impossible. Henry Hyndman’s S.D.F. was accused of impossibilism and the S.D.F. made the same charge against Jack Fitzgerald and others who went on to found the Socialist Party of Great Britain on impossibilist doctrines – typically that “socialism is impossible until the working class understands what socialism means.” But of course, the working class cannot understand what socialism means until socialism is already a well-established social formation and way of life, so one can only conclude that socialism is impossible.

Other varieties of impossibilism include such demands that under socialism there can be no state of any kind, even simply for the provision of social services, etc.; or that socialism can only be achieved by a thoroughly egalitarian movement of the working class as would have no place even for any political party, etc. See Sectarianism.

See Theo. Rothstein’s sympathetic treatment of the S.D.F.’s impossibilism in Marx, Engels and the SDF and a critique of impossibilism published in the US Socialist: At the Parting of the Ways, by Hermon Titus.