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The extensive stage reached its limits in England by the 1810s and after a lease of life through imperial expansion, definitively by 1860s; in Germany, by the 1880s; in the US, by 1920s (Aglietta,1976); in Brazil, by the 1970s. In contemporary capitalism (or Late Capitalism ) it is generalized over virtually the whole world economy and some see itself having reached its limits with the exhaustion of the post-war boom by the mid-1960s. It is disputed whether the social organization --or mode of production-- based on commodity production and wage labour, that is to say, Capitalism itself, can make a transition from its present form to one in which the ever-increasing branch of Services can be commodified. References Aglietta, Michel (1976) ''Régulation et crises du capitalisme'' Maspéro, Paris, A theory of capitalist regulation Verso, London Mandel, Ernest (1958?) ''Late capitalism'' |
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