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The future of capitalism and our planet depend on it. * Matthew Wilburn King is an international consultant and conservationist based in Boulder, Colorado and the president and chairman of the ...
- The Origins
- A New Epoch
- The Cultural Component
- And Then What?
Karl Marx first analysed the last stage of capitalism in his three-volume magnum opus Capital: A Critique of Political Economy(published in 1867, 1885, and 1894), particularly in Volume 3. For Marx, an acceleration in the turnover of capital, concentrating wealth in the hands of the few, would result in a continuous tendency to crises. This, he bel...
The term wasn’t taken up widely until Belgian Marxist economist Ernest Mandel’s treatise Late Capitalismwas published in English in 1975. Mandel used the idea to describe the economic expansion after the second world war. This was a time characterised by the emergence of multinational companies, a growth in the global circulation of capital and an ...
The term “late capitalism” regained relevance in 1991 when Marxist literary critic Fredric Jameson published Postmodernism or the Cultural Logic of Late Capitalism. Drawing on Mandel’s idea that capitalism has sped up and gone global, Jameson expanded his analysis to the cultural realm. His argument was that late capitalist societies have lost thei...
Since its conception, the idea of late capitalism has chiefly referred to the latest stage of capitalist development. This “last stage” condition has been bestowed on almost every period following a moment of economic crisis. Global economic upheavals such as the 2008 subprime crisis and the financial upheaval caused by the COVID-19 pandemic have l...
- David Aviles
May 10, 2024 · On his account, proto-capitalistic forms existed prior to 1500 CE; the period 1500 to 1800 was the ‘early’ phase of capitalism; 1800 to World War I was the period of ‘high’ capitalism; and the period after that was depictable as ‘late’ capitalism (Spätkapitalismus) (Backhaus, 1989). 2 Sombart’s basic typology has been highly influential subsequently, to the degree that it may be ...
- David Inglis
Apr 18, 2012 · The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. Incorporated as a not-for-profit foundation in 1971, and headquartered in Geneva, Switzerland, the Forum is tied to no political, partisan or national interests.
- Klaus Schwab, World Economic Forum
Late capitalism is a concept first used in print (in German) by German economist Werner Sombart at the start of the 20th century. [1] In the late 2010s, the term began to be used in the United States and Canada to refer to corporate capitalism .
Dec 20, 2022 · As Mandel described it, the period of late capitalism did not represent a change in the essence of capitalism, only a new epoch marked by expansion and acceleration in production and exchange. Thus one of the main features of late capitalism is the increasing amounts of capital investments into non-traditional productive areas, such as the expansion of credit.
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Jun 17, 2024 · Late-stage capitalism is a popular phrase that targets the inequities of modern-day capitalism. For example, it spotlights the immorality of corporations using social issues to advance their brands. It also criticizes the growing wealth gap and the concentration of power in the hands of a few.
