Complex sentence: Late modernity (or "liquid modernity") is the state of some highly developed present day societies as a continuation or development of modernity, rather than as a distinct new state, post-modernity.
Split into simpler sentences: Late modernity (or "liquid modernity") is a term that has been used to describe the condition or state of some highly developed present day societies. It regards their state as a continuation or development of modernity, rather than as a distinct new state, post-modernity.