Page "Late capitalism" Paragraph 6

According to the Marxist economist Ernest Mandel, who popularised the term with his 1972 PhD dissertation, late-stage capitalism will be dominated by the machinations – or perhaps better, fluidities – of financial capital ; and also by the increasing commodification and industrialisation of ever more inclusive sectors of human life.

Mandel was insistent that “ Far from representing a ' post-industrial society ', late capitalism thus constitutes generalized universal industrialization for the first time in history ”.