{"id":12561,"date":"2024-06-16T01:03:32","date_gmt":"2024-06-16T08:03:32","guid":{"rendered":"https:\/\/www.oeconomist.com\/blogs\/daniel\/?p=12561"},"modified":"2025-06-16T21:40:39","modified_gmt":"2025-06-17T04:40:39","slug":"its-a-bit-late","status":"publish","type":"post","link":"https:\/\/www.oeconomist.com\/blogs\/daniel\/?p=12561","title":{"rendered":"It's a Bit Late"},"content":{"rendered":"<p><a href=\"https:\/\/books.google.com\/ngrams\/graph?content=late+capitalism%2Clate-stage+capitalism%2Clate+stage+capitalism&year_start=1901&year_end=2019&corpus=en-2019&smoothing=0\">The immoderate political left began speaking and writing of <q>late&#91;-stage&#93; capitalism<\/q> with the end of the First World War.<\/a> <a href=\"https:\/\/books.google.com\/ngrams\/graph?content=late+capitalism%2Clate-stage+capitalism%2Clate+stage+capitalism&year_start=1901&year_end=2019&corpus=en-2019&smoothing=0\"><img loading=\"lazy\" decoding=\"async\" src=\"wp-content\/uploads\/2025\/06\/late_capitalism_1688x905.png\" width=\"450\" height=\"210\" alt=\"\" style=\"display: block ; width:1688px ; height:905px ; max-width:100% ; max-height:53.61vw ; border: none ;\"\/><\/a> <\/p><p>The idea has been that the industrialized world has entered the <em>final<\/em> stage of <a href=\"?p=4372\">something called <q>capitalism<\/q><\/a>, with a <em>revolutionary<\/em> change to some form of <a href=\"?p=4600\">socialism<\/a> <em>just around the corner<\/em>&#8230;<\/p> <p>&#8230;for more than a century now.<\/p> <p>(Actually what we've seen is a slow, grinding transformation away from the use of genuine <em>markets<\/em> to an <em>administrated<\/em> order, which in more recent years has threatened to become a <em>neo-feudalism<\/em>.  The transformation began well <em>before<\/em> the First World War, as technocratic thinking began displacing liberalism.)<\/p> ","protected":false},"excerpt":{"rendered":"The immoderate political left began speaking and writing of late&#91;-stage&#93; capitalism with the end of the First World War. The idea has been that the industrialized world has entered the final stage of something called capitalism, with a revolutionary change to some form of socialism just around the corner&#8230; &#8230;for more than a century now. [&hellip;]","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[6,117],"tags":[944,947,1330,1727,1728,150],"class_list":["post-12561","post","type-post","status-publish","format-standard","hentry","category-commentary","category-communication","tag-capitalism","tag-definitions","tag-economics","tag-late-capitalism","tag-late-stage-capitalism","tag-socialism"],"_links":{"self":[{"href":"https:\/\/www.oeconomist.com\/blogs\/daniel\/index.php?rest_route=\/wp\/v2\/posts\/12561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oeconomist.com\/blogs\/daniel\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oeconomist.com\/blogs\/daniel\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oeconomist.com\/blogs\/daniel\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oeconomist.com\/blogs\/daniel\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12561"}],"version-history":[{"count":30,"href":"https:\/\/www.oeconomist.com\/blogs\/daniel\/index.php?rest_route=\/wp\/v2\/posts\/12561\/revisions"}],"predecessor-version":[{"id":12723,"href":"https:\/\/www.oeconomist.com\/blogs\/daniel\/index.php?rest_route=\/wp\/v2\/posts\/12561\/revisions\/12723"}],"wp:attachment":[{"href":"https:\/\/www.oeconomist.com\/blogs\/daniel\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oeconomist.com\/blogs\/daniel\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oeconomist.com\/blogs\/daniel\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}