Understanding 'Capitollism': The New Phase of Capitalism
What does late-stage really mean? Welcome to the era of Capitollism, says Kashyap Kompella
Hindustan Times
Image: Hindustan Times
Kashyap Kompella discusses the evolution of capitalism into what he terms 'capitollism,' where access replaces opportunity, and economic mobility declines. This shift reflects a system where individuals pay continuously for participation, leading to a sense of compliance rather than progress, and raises questions about the sustainability of society.
- 01The concept of 'capitollism' highlights a shift from opportunity to access in capitalism.
- 02Economic mobility is declining, with many feeling stuck despite employment.
- 03Large corporations dominate essential services, complicating competition and innovation.
- 04The current system operates under pressure, leading to compliance rather than revolt.
- 05The sustainability of society is questioned in the context of late-stage capitalism.
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Kashyap Kompella introduces the term 'capitollism' to describe a new phase of capitalism where economic life is structured around access rather than opportunity. In this system, individuals find themselves paying continuously to remain part of the economy, leading to a sense of stagnation despite being employed. This shift is characterized by large corporations controlling essential infrastructure, creating an environment where mobility declines and compliance replaces ambition. Kompella argues that the pressures of late-stage capitalism result in a societal structure resembling an oppressive caste system, where the few benefit significantly while the majority settle for less. He draws parallels with Hindu cosmology's Kali Yuga, suggesting that this phase reflects a time of collapse and inversion, where economic growth overshadows community and dignity. The ongoing challenges of climate change and resource depletion further complicate the future of this system, raising critical questions about its sustainability and the well-being of society.
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