Abstract
Late capitalism is never late enough; or so it appears in a period of retrenchment. In the Marxist lexicon, capitalism is always digging its own grave. Every phenomenon is the last one. The end is always here or a moment away. Lenin dubbed imperialism the highest and last state of capitalism. Fascism was analyzed as a decrepit and decaying form of capitalism. Post-World War II capitalism was labeled "late." The left periodically forecasts the imminent destruction of capitalism; the reality is more the reverse: capitalism periodically destroys the left. Only two propositions seem certain: capitalism will not collapse tomorrow, nor will it last forever.
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