Late modernity (or liquid modernity) is the characterization of today's highly developed global societies as the continuation (or development) of modernity rather than as an element of the succeeding era known as postmodernity, or the postmodern.
Introduced as 'liquid' modernity by the Polish-British sociologist Zygmunt Bauman, late modernity is marked by the global capitalist economies with their increasing privatisation of services and by the information revolution.
Social theorists and sociologists such as Scott Lash, Ulrich Beck, Zygmunt Bauman and Anthony Giddens maintain (against postmodernists) that modernization continues into the contemporary era, which is thus better conceived as a radical state of late modernity. On technological and social changes since the 1960s, the concept of "late modernity" proposes that contemporary societies are a clear continuation of modern institutional transitions and cultural developments. Such authors talk about a reflexive modernization process: in Giddens' words, "social practices are constantly examined and reformed in the light of incoming information about those very practices, thus constitutively altering their character". Modernity now tends to be self-referring, instead of being defined largely in opposition to traditionalism, as with classical modernity.
Anthony Giddens does not dispute that important changes have occurred since "high" modernity, but he argues that we have not truly abandoned modernity. Rather, the modernity of contemporary society is a developed, radicalized, 'late' modernity—but still modernity, not postmodernity. In such a perspective, postmodernism appears only as a hyper-technological version of modernity.'