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“Late stage” implies we are in the end stage of something. I see nothing to indicate that we are about to surpass capitalism and get something new, merely that
by keiferski 3y ago
“Late stage” implies we are in the end stage of something. I see nothing to indicate that we are about to surpass capitalism and get something new, merely that it has some issues and many people wish and hope for an alternative.
- layer8 3y agoThe term means to imply the worst effects of capitalism, such that there can be no “later” stage of capitalism with worse (new kinds of) effects. Basically, it implies the “end game” of capitalism.
- keiferski 3y agoI don’t think that’s how most people use it. But let’s imagine it is - it seems pretty obvious to me that the effects of capitalism were worse circa 1860 to 1920 than they are today. I don’t think this is a controversial take.
- danaris 3y agoWhile some things (like labor laws and certain kinds of pollution) are better today than they were back then, income and wealth inequality are significantly worse today than they were during the "Gilded Age".
- keiferski 3y agoYou seriously think that factory workers in 1880 had it better than low income workers today?
- layer8 3y agoThat’s not what the parent is saying. They are saying that the inequality is greater, meaning that the income distribution shows a larger imbalance.
- keiferski 3y agoYes, I read the comment. The discussion was whether, "the effects of capitalism were worse circa 1860 to 1920 than they are today." I'm also pretty skeptical of the "inequality was better" route. Sure, the rich are richer today – but the poor are infinitely less poor. Being poor in 2023 is a far better situation than being poor in 1880.
- danaris 3y agoI specifically mentioned labor laws as an exception.
- krapp 3y agoIt's best to think of "late stage" capitalism in the same terms as "late stage" cancer.
- JKCalhoun 3y agoI generally agree with you but was pointing out that the end stage might be the end stage of one form of Capitalism — as the Robber Baron era was the end of that one.
- keiferski 3y agoFor sure, and I do think we could be entering a different form of capitalism. But that level of nuance is rarely present when the this term is used.