Historical Place of Imperialism, imperialism is the final historical stage of capitalism, the period of its decay and death, and the eve of the socialist revolution. Lenin wrote: "Imperialism is a specific historical stage of capitalism. Its specific character is threefold: imperialism is (1) monopoly capitalism; (2) parasitic, or decaying capitalism; (3) moribund capitalism" (V. I. Lenin, Collected Works, Vol. 23, p. 105). The decisive feature of imperialism is that, in economic essence, it is monopoly capitalism. Economic power is concentrated in the hands of the largest monopoly associations. The monopolies have penetrated all spheres of production. The power of the capitalist monopolies is combined with that of the bourgeois state (see State-Monopoly Capitalism). Production is socialised to the highest degree it can possibly reach under capitalism. It requires the planned organisation of production on the scale of society as a whole, which is impossible under capitalism. With private ownership of the means of production, all forms of monopoly inevitably engender the tendency towards stagnation and decay. The main features of this process are the following: it becomes economically possible to impede economic progress in the interest of the monopolies; a section of rentiers and rentier states make their appearance; the export of capital grows; the plunder of dependent nations intensifies; the top crust of the working class is bribed and a "worker aristocracy" is formed; political reaction grows in every sphere. The economy, technology and science also develop under imperialism, but scientific and technological progress assumes a contradictory and often distorted form, to the detriment of the vital interests of the people and to suit the self-seeking ends of monopoly capital. Progress occurs only where monopoly is assured high profits. The dominance of the monopolies breeds a tendency towards technical stagnation, which shows that imperialism is a brake on the development of the productive forces, and decaying capitalism. A vivid example of capitalism’s decay under imperialism is the huge non-productive expenditures to militarise the economy (see Militarisation of the Economy of Capitalist Countries). An indication of the parasitic character of imperialism is that the monopoly elite has finally withdrawn from the social process of production. The management of production is being increasingly assumed by hired experts. A group of rentiers emerges, who live on incomes obtained from capital investment abroad which yields enormous profits. A situation arises in which whole capitalist countries become rentiers by exploiting other nations through the export of capital and extracting huge dividends from it, part of which is used by the monopolists to bribe the workers’ elite, thus creating social support for themselves within the working-class movement in the form of opportunist parties and leaders. The stagnation and parasitic nature of capitalism under imperialism is compounded by growing reactionary trends in the economy, politics, ideology, and culture. There is a turn from bourgeois democracy to political reaction, expressed in the establishment of anti-democratic and fascist regimes. Lenin concluded that imperialism is dying capitalism. "The epoch of capitalist imperialism is one of ripe and rotten-ripe capitalism, which is about to collapse, and which is mature enough to make way for socialism" (V. I. Lenin, Collected Works, Vol. 22, p. 109). The further deepening of the general crisis of capitalism has further heightened imperialist contradictions, thus undermining the domination of monopoly capital and making working people increasingly resist and struggle against imperialism, which will ultimately lead to its downfall.