Why the Phrase ‘Late Capitalism’ Is Suddenly Everywhere

By Annie Lowrey – Now, it is everywhere, in thousands of social-media posts and listicles aimed at Millennials and news stories about modern malaise.

Over time, the semantics of the phrase shifted a bit. “Late capitalism” became a catchall for incidents that capture the tragicomic inanity and inequity of contemporary capitalism.

This usage captures the resurgent left’s anger over the recovery and the inequality that long preceded it—as well as the rage of millions of less politically engaged Americans who nevertheless feel left out and left behind.

“I think it’s popular again now because the financial crisis and subsequent decade has really stripped away a veneer on what’s going on in the economy,” Mike Konczal, a fellow at the Roosevelt Institute, told me. “Austerity, runaway top incomes, globalization, populations permanently out of the job market, competition pushed further into our everyday lives. These aren’t new, but they have an extra cruelty that is boiling over everywhere.”

The current usage also captures the perceived froth and foolishness of Silicon Valley. The gig economy in particular provides plenty of late-capitalist fodder, with investors showering cash on platforms to create cheap services for the rich and lazy and no-benefit jobs for the eager and poor. At the same time, traditional jobs seem to be providing less in the way of security, stability, and support, too. more> https://goo.gl/bwRjd5

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