This work calls into question the assertion that global capitalism functions as an autonomous empire ruled only by the market and multinational corporations. In contrast, it is argued, the role of the imperial state is central in regard to the form taken by capitalist development. Within the context of a broad discussion that takes us from Latin America to Russia and China, to Iraq and around the world, this work analyzes the economic base of imperial power and actions of the state in the maintenance and spread of empire. It also demonstrates the limits and costs of empire to the citizens of the United States._x005F_x005F_x005F_x005F_x005F_x005F_x005F_x000D_ James Petras is Professor Emeritus of Sociology at the State University of New York._x005F_x005F_x005F_x005F_x005F_x005F_x005F_x000D_ Henry Veltmeyer is Professor of International Development Studies at Universidad Aut EUR EUR noma de Zacatecas and at Saint Marys University in Halifax.