What "late" generally conveys is rather the sense that something has changed, that things are different, that we have gone through a transformation o… - Fredric Jameson

The success story of the word postmodernism demands to be written, no doubt in best-seller format; such lexical neoevents, in which the coinage of a neologism has all the reality impact of a corporate merger, are among the novelties of media society which require not merely study but the establishment of a whole new media-lexicological subdiscipline.

This matter of periodization is not , however, altogether alien to the signals given off by the expression "late capitalism," which is by now clearly identified as a kind of leftist logo which is ideologically and politically booby-trapped, so that the very act of using it constitutes tacit agreement about a whole range of essentially Marxian social and economic propositions the other side may be far from wanting to endorse. Capitalist was itself always a funny word in this sense: just using the word - otherwise a neutral enough designation for an economic social system on whose properties all sides agree - seemed to position you in a vaguely critical suspicious, if not outright socialist stance: only committed right wing ideologues and full-throated apologists also use it with the same relish.

The problem of postmodernism - how its fundamental characteristics are to be described, whether it even exists in the first place, whether the very concept is of any use, or is, on the contrary, a mystification - this problem is a t one and the same time an aesthetic and political one.