Late capitalism survives crises by incorporating whatever previously stood outside it

Evidence

Late capitalism, in Ernest Mandel’s complex account, is an intensification of the imperialist, monopoly-capitalist epoch, not a completely new and different phase of capitalism, not an exit from capitalism toward something else. … But this is only one factor in late capitalism, and what is key for Mandel’s argument is that this era is defined by capitalism’s perpetual ability to save itself from apparent crisis and collapse by taking precapitalist and semicapitalist economic and social relations, relations that would seem to be antagonistic to capitalism, and incorporating these antagonisms into capitalism itself. — Grant Bollmer, Katherine Guinness, The Influencer Factory, 102

Categorization

• DEFINE: Establishes Mandel’s definition of late capitalism, loaded with the central incorporation mechanism that the whole Corpocene argument depends on.
• XREF: connects to: Late-capitalist crises are displaced from economy onto culture as legitimation gaps — Alex Callinicos, Against Postmodernism: A Marxist…, 403; The 1973 crisis began a new capitalism immune to state steering and proletarian challenge — Martin Jay, The Dialectical Imagination: A History…, 18; The 1847-8 crisis proved capitalism generates crises from its own internal workings. — David Harvey, The Condition of Postmodernity: An…, 1643 (+4 more)