Alnoor Ladha characterizes 'late-stage capitalism' as a phase in the capitalist system marked by pronounced economic inequalities, rampant consumerism, and the global consolidation of corporate power. He describes this period as one where the foundational principles of capitalism—competition and market efficiency—are overshadowed by monopolistic practices and the prioritization of profit over social and environmental well-being. In this environment, systemic issues such as wage stagnation, environmental degradation, and social disenfranchisement are exacerbated, highlighting the unsustainable and extractive nature of the system. According to Ladha, late-stage capitalism is also characterized by a crisis of legitimacy, as increasing segments of the global population begin to question the viability of a system that disproportionately benefits a wealthy elite while marginalizing the majority.

See also: neoliberal capitalism, capitalist system, post capitalism, living planet