abstract:"Late capitalism" is a term used by neo-Marxists to refer to capitalism from about 1945 onwards, with the implication that it is a historically limited stage rather than an eternal feature of all future human society. This period includes the era termed the golden age of capitalism.
However, it is also true that laissez-faire capitalism of the late 19th century developed many unfortunate characteristics, that became so acute that several generations of intellectuals and national leaders sought ways to deal with them.