What negative aspects of imperialism does J.A. Hobson point out?

J.A. Hobson critiques Imperialism for fostering economic exploitation, arguing that it primarily benefits a small elite while neglecting the needs of the broader population. He highlights the moral and ethical implications, noting that imperialist policies often lead to oppression and violence against colonized peoples. Additionally, Hobson suggests that imperialism diverts resources and attention from addressing domestic issues, ultimately undermining the welfare of the imperial nation itself.