By marking the entry of capitalism into its decadent phase, World War I showed that the objective conditions for the proletarian revolution had ripened. The revolutionary wave, which arose in response to the war and which thundered across Russia and Europe, made its mark in both Americas and found an echo in China, and thus constituted the first attempt by the world proletariat to accomplish its historic task of destroying capitalism. At the highest points of its struggle between 1917 and 1923, the proletariat took power in Russia, engaged in mass insurrections in Germany, and insurrections in Germany, and shook Italy, Hungary, and Austria to their foundations. Although less strongly, the revolutionary wave expressed itself in bitter struggles in, for example, Spain, Great Britain, North and South America. The tragic failure of the revolutionary wave was finally marked in 1927 by the crushing of the proletarian insurrection in Shanghai and Canton in China after a long series of defeats for the working class internationally. This is why the October 1917 revolution in Russia can only be understood as one of the most important manifestations of this class movement and not as a ‘bourgeois’, ‘state-capitalist’, ‘dual’, or ‘permanent’ revolution which would somehow force the proletariat to fulfil the ‘bourgeois-democratic’ tasks which the bourgeoisie itself was incapable of carrying out.