Bauer’s commitment to a form of Hayek’s ‘Road to Serfdom’ thesis meant he saw little meaningful distinction between reformist socialism and totalitarianism: J. A. Hobson’s Imperialism (1902) led directly to Lenin’s Imperialism: The Highest Stage of Capitalism (1916), he argued, then on to the denunciation of neocolonialism penned by Nkrumah, and ultimately to the totalitarian state.

Jessica Whyte, The Morals of the Market, loc. 433