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This comment prompted me to actually look up "late stage capitalism". https://en.m.wikipedia.org/wiki/Late_capitalism https://en.m.wikipedia.org/wiki/Late_capi

by n4r9 4y ago

This comment prompted me to actually look up "late stage capitalism". https://en.m.wikipedia.org/wiki/Late_capitalism https://en.m.wikipedia.org/wiki/Late_capitalism > In modern usage, late capitalism often refers to a new mix of high-tech advances, the concentration of (speculative) financial capital, post-Fordism, and a growing income inequality. I think that definition is at least meaningful, and seems to align with how I've heard people use the phrase.

astrange 4y ago
The term was invented in 1902 and "late-stage" is meant to imply it's going to die of old age very soon. I'm sure it will, any day now. Also, income inequality is not growing. Instead real income is falling for everyone, which is worse!
- ninjanomnom 4y ago
  Late stage to me indicates that some sort of optimal state has been reached, not that the thing will be gone soon. Late stage construction is a nearly complete building for instance. Late stage capitalism is certainly used in this manner as it's meant to refer to the end result of poor incentives being applied over a long period of time.
- n4r9 4y ago
  The meanings of words change over time. > Roberts said that the term’s current usage departs somewhat from its original meaning. “It’s not this sense that things are getting so bad that the revolution is going to come,” he told me, “but rather that we see the ligaments of the international system that socialists will be able to seize and use.” https://www.theatlantic.com/business/archive/2017/05/late-capitalism/524943/ https://www.theatlantic.com/business/archive/2017/05/late-ca... > income inequality is not growing Global within-country income inequality rose steeply between 1980 and 2020. See p.57 of https://wir2022.wid.world/www-site/uploads/2021/12/WorldInequalityReport2022_Full_Report.pdf https://wir2022.wid.world/www-site/uploads/2021/12/WorldIneq... The growth of income inequality in the US over that same period is really stark: https://www.vox.com/2018/7/29/17627134/income-inequality-chart https://www.vox.com/2018/7/29/17627134/income-inequality-cha...

by n4r9 4y ago

astrange 4y ago

The term was invented in 1902 and "late-stage" is meant to imply it's going to die of old age very soon. I'm sure it will, any day now. Also, income inequality is not growing. Instead real income is falling for everyone, which is worse!

ninjanomnom 4y ago
Late stage to me indicates that some sort of optimal state has been reached, not that the thing will be gone soon. Late stage construction is a nearly complete building for instance. Late stage capitalism is certainly used in this manner as it's meant to refer to the end result of poor incentives being applied over a long period of time.
n4r9 4y ago
The meanings of words change over time. > Roberts said that the term’s current usage departs somewhat from its original meaning. “It’s not this sense that things are getting so bad that the revolution is going to come,” he told me, “but rather that we see the ligaments of the international system that socialists will be able to seize and use.” https://www.theatlantic.com/business/archive/2017/05/late-capitalism/524943/ https://www.theatlantic.com/business/archive/2017/05/late-ca... > income inequality is not growing Global within-country income inequality rose steeply between 1980 and 2020. See p.57 of https://wir2022.wid.world/www-site/uploads/2021/12/WorldInequalityReport2022_Full_Report.pdf https://wir2022.wid.world/www-site/uploads/2021/12/WorldIneq... The growth of income inequality in the US over that same period is really stark: https://www.vox.com/2018/7/29/17627134/income-inequality-chart https://www.vox.com/2018/7/29/17627134/income-inequality-cha...