"This practical condition, together with the failure of international-political theories to provide either convincing explanations or serviceable guidance for research, has provided adequate temptation to pursue reductionist approaches. The economic theory of imperialism developed by Hobson and Lenin is the best of such approaches. By "best" I mean not necessarily correct but rather most impressive as theory. The theory is elegant and powerful. Simply stated and incorporating only a few elements, it claims to explain the most important of international-political events-not merely imperialism but also most, if not all, modem wars-and even to indicate the conditions that would permit peace to prevail. The theory offers explanations and, unlike most theories in the social sciences, predictions as well. Moreover, it has successfully performed the other tasks that a good theory should accomplish: namely, stimulating and guiding research and· provoking counter-theories that claim to account for the same phenomena. All in all, the literature that can be attributed to the Hobson-Lenin theory of imperialism, both in support of the theory and against it, is as extensive and as sophisticated as the literature associated with any other school in the field of international politics."