Cultural changes of the late capitalist global society - theoretically most commonly examined through the term postmodernity - are an extremely complex and insufficiently critically scrutinised phenomenon. Therefore, through critical discourse analysis, this paper will follow some of the transdisciplinary theories that analyse postmodern culture and view it as a historical epoch and political-economic symptom of the development stages of the capitalist mode of production. The first part of the paper will outline the historical framework of the emergence of postmodernity using the analyses of David Harvey, and the comprehensive contextualisation of postmodernity as a "cultural dominant" late capitalism by Fredric Jameson. Certain elements of other theories on political economy and the culture of the capitalist mode of production - especially within its late, so-called third phase - will also be used. The transformation of capitalism will then be examined through changes in the dynamics of the form of commodity, its associated technological manifestations, the dominance of the image and of visual media, and the construction of collective and individual subjectivity. The text also problematises the state of culture after the establishment of financial capitalism and the consumer society, which leads to the penetration of capital into nature and the unconscious, and causes a shift in the sense of temporality, as well as a renouncement of History. All of the above causes political paralysis as one of the main features of postmodernity - to that end, forms of political practice from relevant works of postmodern theorists will be proposed, including the methods of cognitive mapping and psychogeography. In its entirety, the text attempts to explore the dialectic between utopian elements, and the emancipatory potential of theoretical articulations of postmodern totality, society of the spectacle, and other cultural manifestations of late capitalism that mirror the system with a fetishistic aura.