4 ms·

> late stage capitalism Much later than the capitalism in most advanced economies ?

nl 9y ago
"late stage capitalism" is a reference to a view that capitalism inevitably leads to a system run by oligarchs. Or something like that - it isn't exactly used consistently[1]. Originally it was a Marxist term, but I don't believe many people use it in this original meaning[2]. It's a pity, because everything else in that poster's comment made sense, I think this detracts from their point. [1] https://www.theatlantic.com/business/archive/2017/05/late-capitalism/524943/ https://www.theatlantic.com/business/archive/2017/05/late-ca... [2] https://en.wikipedia.org/wiki/Late_capitalism https://en.wikipedia.org/wiki/Late_capitalism
- sageikosa 9y ago
  Pegging "capitalism" into a teleological historiographic narrative (aimed at justifying non-capital producing collectivist dictatorships) has been around for so long that its retro chic again.
  - andrepd 9y ago
    That wasn't at all my intention. But nor is it unreasonable to argue that capitalism as it is practiced today cannot sustain itself indefinitely. Nothing teleological or prophetic about it.
    - sageikosa 9y ago
      To my ear that's like saying evolution cannot sustain itself indefinitely. As long as there are generational selective pressures on imperfect replicators, evolution will continue. Without a superstructure of omnipresent social domination to hinder or disrupt it, capitalism will be used where countable savings for investment and idea that promising accountable returns find themselves together. Here's a thought to explain my defense of capitalism: capitalism doesn't cause corruption, but like anything else it is destroyed by corruption. Capitalism is used by the corrupt because it is so good at identifying that which the market values and in delivering it.
- andrepd 9y ago
  I must admit I'm not familiar with the original usage of the term. Probably replace "late capitalism" with something like "unchecked capitalism" or something. I probably didn't use the correct term.
dang 9y ago
We ban accounts that use HN primarily for political or ideological battle. Single-purpose accounts are also not allowed here. Therefore I've banned this one. Please don't create accounts to break the HN guidelines with: https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html. We detached this subthread from https://news.ycombinator.com/item?id=15071005 https://news.ycombinator.com/item?id=15071005 and marked it off-topic.

nl 9y ago

"late stage capitalism" is a reference to a view that capitalism inevitably leads to a system run by oligarchs. Or something like that - it isn't exactly used consistently[1]. Originally it was a Marxist term, but I don't believe many people use it in this original meaning[2]. It's a pity, because everything else in that poster's comment made sense, I think this detracts from their point. [1] https://www.theatlantic.com/business/archive/2017/05/late-capitalism/524943/ https://www.theatlantic.com/business/archive/2017/05/late-ca... [2] https://en.wikipedia.org/wiki/Late_capitalism https://en.wikipedia.org/wiki/Late_capitalism

sageikosa 9y ago
Pegging "capitalism" into a teleological historiographic narrative (aimed at justifying non-capital producing collectivist dictatorships) has been around for so long that its retro chic again.
- andrepd 9y ago
  That wasn't at all my intention. But nor is it unreasonable to argue that capitalism as it is practiced today cannot sustain itself indefinitely. Nothing teleological or prophetic about it.
  - sageikosa 9y ago
    To my ear that's like saying evolution cannot sustain itself indefinitely. As long as there are generational selective pressures on imperfect replicators, evolution will continue. Without a superstructure of omnipresent social domination to hinder or disrupt it, capitalism will be used where countable savings for investment and idea that promising accountable returns find themselves together. Here's a thought to explain my defense of capitalism: capitalism doesn't cause corruption, but like anything else it is destroyed by corruption. Capitalism is used by the corrupt because it is so good at identifying that which the market values and in delivering it.
andrepd 9y ago
I must admit I'm not familiar with the original usage of the term. Probably replace "late capitalism" with something like "unchecked capitalism" or something. I probably didn't use the correct term.

dang 9y ago

We ban accounts that use HN primarily for political or ideological battle. Single-purpose accounts are also not allowed here. Therefore I've banned this one. Please don't create accounts to break the HN guidelines with: https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html. We detached this subthread from https://news.ycombinator.com/item?id=15071005 https://news.ycombinator.com/item?id=15071005 and marked it off-topic.