Once capital export required political power, native bourgeoisie displaced Jewish financiers from imperialist leadership

Evidence

As soon as it became clear that export of money would have to be followed by export of government power, the position of financiers in general, and Jewish financiers in particular, was considerably weakened, and the leadership of imperialist business transactions and enterprise was gradually taken over by members of the native bourgeoisie. Very instructive in this respect is the career of Cecil Rhodes in South Africa, who, an absolute newcomer, in a few years could supplant the all-powerful Jewish financiers in first place. … Somehow the government’s reluctance to yield real power to Jews and the Jews’ reluctance to engage in business with political implication coincided so well that, despite the great wealth of the Jewish group, no actual struggle for power ever developed after the initial stage of gambling and commission-earning had come to an end. — Hannah Arendt, The Origins of Totalitarianism, 369

Categorization

• XREF: Directly relevant to the reader’s field: the shift from moneyed outsiders to native bourgeoisie in imperialism bears on how colonial states structured racial/national hierarchies that later Islamophobic discourse inherits.
• SEED: Angle: how the exclusion of Jewish financiers from political power at the moment of state expansion prefigures the pattern of racialized outsiders being used for capital then excluded once capital becomes political.