Don’t call it a comeback, I’ve been here for years, I'm rockin' my peers, puttin' suckers in fear
Makin' the tears rain down like a monsoon. Listen to the bass go boom…
It has been a while, but I had 2 interviews die at questions 8 and 16 respectively. There is a bit of a time request that is built into the crafting of my interviews. I try to make the process into a super bite-sized email conversation, but my priority is not other people’s priority. I understand that. No harm, no foul. One of the interviews is with a podcaster whose podcast I absolutely adore and recommend to others, but that person wasn’t in a place in their life right now to prioritize a conversation with an Internet rando.
Soooo… to the topic at hand, for no apparent reason I am going to answer questions about Late Stage Capitalism. I gave ChatGPT a prompt about q’s about Late Stage Capitalism. I am sure that anyone reading can understand why. I think the non-feeling, non-thinking ChatGPT knew why when I asked. Less “gibber-jabber,” on to the question:
1. What exactly does “late stage capitalism” mean?
Good idea, let’s start with a definition. Firstly, what is Capitalism? (I promise I will not get preachy) Capitalism is an economic system where most businesses and resources are privately owned, and goods and services are produced and exchanged in markets to make a profit. Prices and production are largely driven by supply and demand rather than by a central authority.
Basically, Capitalism is when people with stuff use that stuff to make more stuff and money, while everyone else tries to buy, sell, or invent their way up — all without a master scoreboard beyond “did it make a profit?”
For the purposes of this post, “Late Stage Capitalism” is the feeling (and critique) that capitalism, left unchecked, becomes both wildly innovative and wildly inequitable — so efficient at making profit that it starts to hollow out work, culture, and even the planet. It is described by:
Extreme wealth concentration
Corporate consolidation & monopolies
Financialization of everything
Hyper-consumerism & commodification
Gig & precarious labor
Ecological strain
Material absurdities
2. Is “late stage” meant to imply collapse, parody, or just evolution?
It is the collapse of the capitalistic system. When the “Late Stage” indicators are met, the system, as it is, becomes untenable.
3. Which features of capitalism today seem most absurd or unsustainable?
There are 2 main things that I think are absurd and unsustainable. One is the monopolization and business consolidation, the other is the hyper focus on short term gain for shareholders.
4. Can capitalism survive without perpetual growth?
No, it cannot. The profit driven model requires that profits continue to grow.
5. Do cryptocurrencies represent an escape from late stage capitalism or a deeper entrenchment?
Cryptocurrencies are both a contributor and a symptom of Late Stage Capitalism. They eat resources, and are just another way to financialize the use of machinery, but they indicate a problem with the existing fiat monetary systems, and the concentration of borrowable wealth by the banking industry.
6. Is “late stage capitalism” universal, or just a Western phenomenon?
This is a good one… I am going to say universal since the economy is truly a global economy except for North Korea, which really seems to be stuck in Feudalism.
7. Could capitalism collapse the way feudalism did?
Yes, because in some places Feudalism slowly morphed into mercantilism and then to capitalism, but in others it broke violently.
8. If late stage capitalism ends, is the transition likely to be gradual or catastrophic?
It’s like these questions build on each other. Good job, Chat. A little of Column A and a little of Column B. There will be places and times where the system will slowly change due to pressures beyond the system’s control. It will become “profitable” (maybe not monetarily) to modify the system, but then there will be hungry and thirsty masses with pitchforks coming to carve billions from billionaires.
9. Is a mall food court in a cathedral a sign of late stage capitalism?
That would be one of the most glaring signs of Late Stage Capitalism.
10. Which dystopian novel feels closest to the vibe of today—1984, Brave New World, or Snow Crash?
Right now, in the US, we are soooooo close to 1984, it hurts.
11. If capitalism is a game, is everyone still playing by the same rules?
No, we are not. There are a different set of rules for the super-mega rich… almost like they are royalty during the times of Feudalism….
12. Do memes about “eating the rich” count as protest or just entertainment?
Yes to both
13. Is a pumpkin spice latte a harmless indulgence or a ritual of consumer obedience?
I am not certain it is a ritual of consumer obedience… it is an indicator of indulgence though.
14. Does the gig economy feel more like freedom?
No, they mask the security of being able to count on a paycheck with flexibility and independence.
15. If/when late stage capitalism ends, is the transition likely to be gradual or catastrophic?
You are worried about this one, aren’t you?
16. How do climate crises stress-test capitalist economies?
Climate crises are typically mainly crises of people, not for companies. Sure companies get impacted by hurricanes, flooding, drought, etc… but people are the more affected group. Does helping those affected people during/after a catastrophe make money or cost money….
17. What role does AI play in reshaping labor, wealth, and markets?
Self-serving to the last… I think AI is a tool. It is a tool unlike any we have ever seen, but a tool nonetheless. In my little monkey brain, I equate it with the advent of the Steam Engine.The steam engine started being able to automate physical work. How did it reshape, labor, wealth, and markets? There is a case to be made that the steam engine helped to end Feudalism and ushered in the age of capitalism.
AI is definitely an inflection point for how our economic system will work.
18. What are some proposed alternatives or transitional strategies that theorists and activists suggest as a path beyond Late Stage Capitalism?
There are 4 main flavors of post-Capitalist. These are:
Pragmatic track: keep the same overall structures and reform and regulate
Optimistic track: tech + sharing = abundance
Ecological track: degrow and cooperate to stay within the resources available
Dystopian track: corporate feudalism and surveillance.
19. Here’s a question for you: If a multinational coffee chain can charge $8.00 for a latte made with oat milk, and a college graduate with two degrees has to sell that latte to afford their shared studio apartment, is the coffee the problem, the wage, the rent, or are we just funding the CEO's rocket to escape the whole mess?
Ouch… that one hits the nail on the head…
20. Is it going to be okay?
Eventually, yes. But it is going to get bad, just like it always does. But then it gets better, like it always does.
To recap:
There is hope
It will follow lots of pain
I need to get back into the habit of posting regularly again
It seems to help my mental attitude
The contract work I am doing right now is going well enough… it would be helpful to have another contract lined up for when this one finishes
The most important contract is the one you are going after and all that
I do enjoy working at the store where I have my side-hustle, but this mortgage can’t be paid by selling dog food
No matter how bougie the dog food is
There is a bag of dogfood in the store that is $198.75 for 20 lbs
It is AMAZING food, but, come the fuck onLooking for more interviews
Everyone has a story to tell
You may think yours is boring and uninteresting, but you are wrongLet me ask you 20 Questions and tell an interesting story
Hit me up
Happy to ask anyone questions
Let me know if there is a random topic you would like me to answer 20 questions about
Let me know if there is an historical or public domain fictitious character you would like me to ask 20 Question
Do the thing with the Substack
Do the thing on Medium
I have a subreddit, but I don’t know why
Have a great week everyone
I mean that
I’ll say it again
Have a good week everyone