For the past 500 years, capitalism has been the dominant economic system, and it's gone through various stages. Its roots trace back to ancient history with bartering and trading, which Adam Smith, the father of modern market capitalism, considered part of human nature. Nowadays, the phrase “late capitalism” has become a viral meme, highlighting the absurdities of certain free market economies. On social media platforms like X, hashtags like #latecapitalism, #tardocapitalismo, and #spätkapitalismus make light of ideas such as "endless growth". Academically, “late capitalism” pops up in discussions about populist rises, financial investments, Big Tech, and migration conditions.
But where did this term come from, and what does it really mean? Click through the gallery to discover more.