The term “late capitalism” used in the title of Jameson’s essay has proven to be extremely influential, yet is easily misunderstood. It is not a term of Jameson’s own coinage (it was first used by Ernest Mandel, a Belgian economist and activist).
It is often taken to mean something like “the latter stages of capitalism,” implying that the end of capitalism is near. In fact, for Mandel, it simply meant capitalism “of late” (that is, recently).
Oooooooohhhhhh
Also relevant:
The first edition of Lenin’s pamphlet was published in April 1917 in Petrograd, after the February Revolution, under the title Imperialism, the Latest Stage of Capitalism (A Popular Framework). In 1920, the term “latest stage” was replaced by the “highest stage” in the German and French editions
That explains it. Been annoyed with this buzzword for quite some time.
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