It's been a half century since the Belgian Marxist and Soviet apologist Ernest Mandel coined the phrase "late capitalism" to describe the death throes of free markets that would soon give way to liberating state socialism. Still waiting. Perhaps,a new term

It's been a half century since the Belgian Marxist and Soviet apologist Ernest Mandel coined the phrase "late capitalism" to describe the death throes of free markets that would soon give way to liberating state socialism. Still waiting. Perhaps,a new term: "very late capitalism"