Control, Crisis, & Compliance: Endgame Logic Of Late Capitalism

Capitalism is an ideal type concept that highlights key characteristics of a phenomenon by accentuating some elements while omitting others, and it is not meant to perfectly correspond to any specific real-world instance. As an economic system, capitalism inherently requires constant growth, expanding markets, and sufficient demand to sustain profitability, but when markets saturate and demand falls, overproduction and overaccumulation of capital become systemic problems. Neoliberalism has responded to these crises by expanding credit markets and increasing personal debt to maintain consumer demand, and other strategies have been deployed, including financial and real estate speculation, stock buybacks, and massive bailouts. The global expansion of neoliberal capitalism is a form of imperialism, where powerful corporations and financial interests impose structural adjustments and policies that undermine local economies, especially in the Global South. The capture of new markets abroad is essential for capital accumulation and offsetting potential declining profitability at home, and this imperial dynamic is particularly visible in the agricultural sector. The climate emergency narrative is being used to legitimise new financially lucrative instruments such as carbon trading and green investments, schemes designed to absorb surplus wealth under the guise of environmentalism. The COVID event provided a stark illustration of how the ongoing crisis of neoliberal capitalism is exploited and managed, serving as a critical phase in its evolution, and lockdowns amplified structural inequalities and reshaped the dynamics of capital and control. The war in Ukraine has further accelerated these dynamics, redirecting flows of energy, finance, and industrial capacity, and the destruction of Europe's energy ties with Russia has engineered a forced dependency on high-cost US liquefied natural gas. The state and ideology are crucial for maintaining capitalism's economic base, with the state intervening through financial support and strategic market expansion, and ideology shapes public perception and legitimises actions by re-framing individual freedoms and exploiting crises. The so-called 'Great Reset' anticipates a fundamental transformation of Western societies, resulting in permanent restrictions on liberties and mass surveillance, and the masses are being conditioned to get used to lower living standards and accept them, with decreased consumption being sold as being good for the planet.