Neo-Colonialism: The Last Stage of Imperialism

Nkrumah suggests that neo-colonialism of the mid-20th century represents “imperialism in its final and perhaps its most dangerous stage” (ix). Old-fashioned colonialism is fading and no new colonies are being created. In neo-colonialism, states may be theoretically independent but their economic system and political policy are dictated from outside. A neo-colonial state may, for example, be compelled to take manufactured products exclusively from the imperial state, rather than the imperial state’s competitors. An imperial state may also impose a banking system on the neo-colonial state. Neo-colonial control may also be exercised by “a consortium of financial interests which are not specifically identifiable with any particular State” (x), such as is the case in Congo. In this way, foreign capital is used for exploitation rather than the development of less-developed places.

The struggle against neo-colonialism aims to end this exploitation. Nkrumah’s country Ghana is a member of the Non-Aligned Movement, which promotes co-operation with capitalist, socialist, and mixed economies alike, rather than take sides in the Cold War. The prevalence of nuclear weapons and the policy of mutually-assured destruction, Nkrumah suggests, means that most wars are now “limited wars” (xi).