Late-Stage Capitalism? Accumulation in the Ruins

Socialist Register 2026

Greg Albo, Stephen Maher

• Publisher: Monthly Review Press
• Year: 2026
• Print ISBN:
  9781685901462
• eBook ISBN:
  9781685901479
• Topic: Politics & International Relations
• Subtopic: Political Economy
• Index: Politics & International Relations

What is neoliberalism transforming into? This year's Socialist Register identifies gaps in Marxist state theory by examining the ongoing, differentiated development of capitalism, from counter-revolutions in public finance and central banking, to changing economic policies under globalizing forms of contemporary fascism and trade in the midst of Trumpism. Puzzling through the rubble left behind, Late-Stage Capitalism? Accumulation in the Ruins, some see a new 'post-industrialism' in which the provisioning of non-standardized services replaces commodity production; others foresee increasingly authoritarian states fusing with far-right movements. It is important to identify contending themes in this 'late-stage capitalism'. In what ways does the return of Donald Trump to the American presidency represent this new phase of capitalism? Is the capitalist class to be barricaded off from the anger of the working classes and the storms of climate change? And where is the left scratching out new political spaces amidst the economic ruins?

Table of contents

• Cover
• Title Page
• Copyright
• Contents
• Contributors
• Preface
• Profitable immiseration: Finance capital at the end of the world
• Trump’s chaotic imperialism: Economic warfare, geopolitical truculence and domestic authoritarianism
• Too Late Capitalism: Ernest Mandel in the Trump era
• Donald Trump’s global gamble – and why he lost
• From dollar dominance to de-dollarization
• What’s wrong with Texas? The ideology of American Christofascism
• Authoritarian myths and capitalist realities: Understanding the Arab state in the Middle East
• Dependency and dispossession in Palestine: From colonialism to the war on Gaza
• Between rupture and pragmatism: Challenges to a progressive alternative in Mexico
• Authoritarianism redux: Political crisis and the legacy of the ‘developmental state’ in Korea
• Leading by example: Building the UK’s new left party in Wales – An interview with Mark Serwotka and Beth Winter
• The crisis of neoliberalism, the rise of neoliberal fascism and the challenges for the left
• Capitalism in the 2020s and beyond