Imperialism, The Highest Stage of Capitalism looks at how Western capitalism in the mid-1800s transitioned inexorably from small businesses competing with one another into huge monopolies that concentrated labour, industry, natural resources and bank finance. Competition, a core element of capitalism, was a casualty of this process and most of the profits went to a top strata of society. Because the system was inherently growth-driven, the powerful oligarchy of financiers, industrialists and governments sought new prospects outside of their native countries in the form of a territorial 'land grab' backed by military might