explain the stage of late capitalism
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State capitalism is an economic system in which the state undertakes business and commercial (i.e. for-profit) economic activity and where the means of production are nationalized as state-owned enterprises (including the processes of capital accumulation, centralized management and wage labor).
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Late capitalism, or late-stage capitalism, is a term first used in print by German economist Werner Sombart around the turn of the 20th century. ... Mandel suggested that important qualitative changes occurred within the capitalist system during and after World War II and that there are limits to capitalist development.
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