Sunday, August 4, 2024

Late Stage Capitalism

 It was my son that introduced me to the concept of “Late Stage Capitalism.” The more accurate description, but worded in a way I can understand, of the idea is that capitalism has entered the phase where its practices and use of resources are unsustainable and where labor is exploited all for an increasingly smaller profit margin. 

Among the list of problems LSC manifests is the commodification of all aspects of life. One of them being a major corporation charging a ridiculous amount for a simple cup of water.

I have no idea at the validity of the meme at the top of this post. But given my years of involvement with the deceptively playful but ultimately amoral corporate mouse, I believe it could very well be true. 

If this is true I don’t blame the employee– who the Mouse euphemistically calls “cast member” for wanting to charge a kid almost over four dollars for a cup of water. Even before the pandemic, any lower end employee of the Mouse knew they were just minor cogs in the corporate machinery. 

One of the many problems with LSC is how very few of the upper echelon understand its keypoint. It is ultimately unsustainable and will either change or collapse.

2 comments:

Jeff said...

I am coming to believe that capitalism isn't compatible with democratic traditions. The capitalist don't want total free economies, they want economics that can be influenced by the government (I began to understand this in Vietnam in 2011, where the govt manages things for the benefit of the capitalist). That's why so many of the capitalists are really fascists. They like a strong leader that lets them make money while protecting them from laissez-faire competition.

The Bug said...

What Jeff said!