Comment by philipallstar
18 hours ago
I don't see why, and I've no idea what "late stage capitalism" is, other than people like to repeat the phrase.
18 hours ago
I don't see why, and I've no idea what "late stage capitalism" is, other than people like to repeat the phrase.
https://en.wikipedia.org/wiki/Late_capitalism#Later_modern_u...
Essentially the emergent properties of extended concentration of power and wealth.
That definition doesn't hold up, though, as Socialism, monarchy, and theocracy all actually combine wealth and power into the top-level institution. So that definition is far too broad.
Also, capitalism is the only one that puts power with the government and money in the hands of a market, which means it's one of the only systems that that definition doesn't apply to.
It is a phrase which implies that capitalism is about to collapse any minute, and that Karl Marx told us so. Marxists have been saying we're in late stage capitalism for nearly 150 years now.