According to J.A.Hobson, what was most responsible for the vast extension of European control at the end of the nineteenth century?

Name: According to J.A.Hobson, what was most responsible for the vast extension of European control at the end of the nineteenth century?
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Hobson argued that the unequal distribution of wealth led to under-consumption in domestic markets, prompting European powers to seek new markets and investment opportunities abroad, thus driving imperial expansion.