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There is no such thing as "late stage capitalism". If you have personal property and the ability to make money from your labor then you have capitalism. Like
by m0llusk 3y ago
There is no such thing as "late stage capitalism". If you have personal property and the ability to make money from your labor then you have capitalism. Like other human systems such as fire and vehicles usage is governed by myths, traditions, customs, and all manner of rules that enable the system to be used with relative safety. You can use fire without getting burned, and you can drive without flying off into the weeds. Back in the 1930s we found that out of control capitalism can be managed with high taxes on the rich, strong regulations on industry, and legalized labor unions and then in the 1980s we abandoned all of that. There is no "late stage capitalism" there, only human beings using systems irresponsibly by abandoning well known and long practiced rules for avoiding serious social harm.
- drcongo 3y ago"late stage capitalism" was defined over 100 years ago.
- Ensorceled 3y agoIt's hilariously ironic that they reference the 30's while saying the phrase that was coined to describe the 20's and 30's doesn't exist.
- IAmGraydon 3y agoSource? NGram viewer finds no instances of “late stage capitalism” in books before 1984.
- jjgreen 3y ago"Late capitalism" (in German) attributed to Werner Sombart in 1902: https://en.wiktionary.org/wiki/late_capitalism https://en.wiktionary.org/wiki/late_capitalism
- msla 3y ago[flagged]
- deleted 3y ago[deleted]
- IAmGraydon 3y agoI get it, but the modern use of the phrase “late-stage capitalism” implies that capitalism itself is a terminal cancer (where the term comes from), which is not at all what Sombart was trying to convey.
- deleted 3y ago[deleted]
- Ensorceled 3y ago> There is no "late stage capitalism" there, only human beings using systems irresponsibly by abandoning well known and long practiced rules for avoiding serious social harm. What do you think "late stage capitalism" means exactly? Because it sounds like you are describing a situation that fits the definition but saying it doesn't exist...
- AnimalMuppet 3y agoConsider the late Roman Empire. The Roman Empire had a beginning, and then an end, and the "late" part was the part that was closer to the end. That's the normal meaning of the word "late". So "late stage capitalism" means - or at least implies - that it's the form capitalism takes before capitalism finally ends. It shouldn't be used for a form that capitalism repeatedly cycles into and out of. If you wanted to use a different term to describe this phase - "monopolistic phase capitalism" or something - then that would be fine. "Late stage", though, gives an illusion of linear movement through a definite time period, which historically has proven to be an incorrect view.
- RandomLensman 3y agoDon't think the term came with any timeframe when it was coined (and the "phases of capitalism" where long, like hundreds of years). Whether it is a late-stage or not is up to future, really, though. I would agree, though, that there are sharper terms to describe the current flavor of capitalism.
- Ensorceled 3y ago> So "late stage capitalism" means - or at least implies - that it's the form capitalism takes before capitalism finally ends That's not how terms work. Maybe you don't like the phrase but it has a meaning, you can't just decide a commonly used term means something else and then debate that strawman. > If you wanted to use a different term to describe this phase - "monopolistic phase capitalism" or something Who is the "you" here? My grandfather was a mere lad when this term was coined.
- 3y ago