Late-Capitalism

Late capitalism, late-stage capitalism, or end-stage capitalism is a term first used in print by German economist Werner Sombart around the turn of the 20th century.[1] https://en.wikipedia.org/wiki/Late_capitalism

• The use of the term "late capitalism" to describe the nature of the modern epoch existed already for four decades in continental Europe, before it began to be used by academics and journalists in the English-speaking world — via English translations of German-language Critical Theory texts, and especially via Ernest Mandel's 1972 book Late Capitalism, published in English in 1975.[13] Mandel's new theory of late capitalism was unrelated to Sombart's theory, and Sombart is not mentioned at all in Mandel's book... For many Western Marxist scholars since that time, the historical epoch of late capitalism starts with the outbreak (or the end[14]) of World War II (1939–1945), and includes the post–World War II economic expansion, the world recession of the 1970s and early 1980s, the era of neoliberalism and globalization, the 2008 financial crisis and the aftermath in a multipolar world society. Particularly in the 1970s and 1980s, many economic and political analyses of late capitalism were published. From the 1990s onward, the academic analyses focused more on the culture, sociology and psychology of late capitalism
• In contemporary academic or journalistic usage, "late stage capitalism" often refers to a new mix of:
  • Strong growth of the digital, electronics and military industries as well as their influence in society. (digital society)
  • Economic concentration of corporations and banks, which control gigantic assets and market shares internationally. (big world)
  • Transition from Fordist mass production in huge assembly-line factories to Post-Fordist automated production and networks of smaller, more flexible manufacturing units supplying specialized markets. (does that contradict prior bullet?)
  • Increasing economic inequality of income, wealth and consumption.
  • Consumerism on credit and the increasing indebtedness of the population.

Jerry Michalski: over 100 variants of capitalism: https://bra.in/5vmPJj