Sunday, May 2, 2010

Advanced Capitalism

Advanced capitalism is an expression used to refer to the features of those societies in which the capitalist model has been integrated and developed deeply and extensively and for a prolonged period of time. The expression distinguishes such societies from the historical previous forms of capitalism, mercantilism and industrial capitalism, and partially overlaps with the concepts of developed country, post-industrial age, finance capitalism, post-Fordism, spectacular society, modern capitalism and complex capitalism.

J├╝rgen Habermas has been a major contributor to the analysis of advanced-capitalistic societies. According to Habermas, a key feature of advanced-capitalism is "privatism", meaning "political abstinence combined with an orientation to career, leisure and consumption" as well as "family orientation" (Habermas, 1988: 37, 75). Another key trait of complex capitalism is commodity fetishism. Antonio Gramsci, formulating his influential concept of cultural hegemony, said that in advanced capitalist societies, innovations such as compulsory schooling, mass media, and popular culture indoctrinate people with the opinions convenient to the powerful.

from Advanced Capitalism

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