In the visual arts, late modernism encompasses the overall production of most recent art made between the aftermath of World War II and the early years of the 21st century. The terminology often points to similarities between late modernism and post-modernism although there are differences. The predominant term for art produced since the 1950s is contemporary art. Not all art labelled as contemporary art is modernist or post-modern, and the broader term encompasses both artists who continue to work in modern and late modernist traditions, as well as artists who reject modernism for post-modernism or other reasons. Arthur Danto argues explicitly in After the End of Art that contemporaneity was the broader term, and that postmodern objects represent a subsector of the contemporary movement which replaced modernity and modernism, while other notable critics: Hilton Kramer,Robert C. Morgan, Kirk Varnedoe,Jean-François Lyotard and others have argued that postmodern objects are at best relative to modernist works.
The jargon which encompasses the two terms late modernism and postmodern art is used to denote what may be considered as the ultimate phase of modern art, as art at the end of modernism or as certain tendencies of contemporary art.
There are those who argue against a division into modern and postmodern periods. Not all critics agree that the stage called modernism is over or even near the end. There is no agreement that all art after modernism is post-modern. Contemporary art is the more-widely used term to denote work since roughly 1960, though it has many other uses as well. Nor is post-modern art universally separated from modernism, with many critics seeing it as merely another phase in modern art or as another form of late modernism.
As with all uses of the term post-modern there are critics of its application, however, at this point, these critics are in the minority. This is not to say that the phase of art denoted by post-modernism is accepted, merely that the need for a term to describe movements in art after the peak of abstract expressionism is well established. However although the concept of change has come to consensus, and whether it is a post-modernist change, or a late modernist period, is undetermined, the consensus is that a profound change in the perception of works of art has occurred and a new era has been emerging on the world stage since at least the 1960s.