Business, Economics & Law
Markets and power in digital capitalism
by Philipp Staab
Description
Today's global capitalism runs through digital networks. Its leaders are internet giants such as Google, Apple, Amazon and Tencent. Their technologies are ubiquitous: we carry high-performance computers around in our pockets, manage our lives in the cloud and display them on social media. They have also literally privatised the market, transforming capitalism in the process.
Philipp Staab takes us on a virtual tour of modern digital capitalism. He shows how digital surveillance and evaluation practices have proliferated throughout the economy, exacerbating social inequality in the process. What is specific to digital capitalism, Staab argues, is the emergence of 'proprietary markets'. In the past the focus was on producing things and selling them at a profit. Today the meta-platforms extract their profits by owning the market itself.
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Endorsements
In the digital age, markets become property. Internet giants like Google, Apple, Amazon or Tencent have established vast digital ecosytems which represent a fundamental transformation of capitalism. The liberal understanding of the market as a tool for free exchange of goods and services, knowledge and innovation, has gone out of the window. The internet meta-platforms own and control today's marketplace - and with it: the trajectory of the economy. Philipp Staab examines the historical roots of these developments and the contemporary forms they have produced. He shows how digital surveillance practices are used to control and manipulate entire markets, how the same type of algorithmic management is employed in the digital labour process, and how these processes exacerbate social inequality. What is specific to digital capitalism, Staab argues, is the emergence of 'proprietary markets'. This marks end of the liberal notion of the economy. The conflicts over its future will be decisive for life chances in digital capitalism.
Reviews
In the digital age, markets become property. Internet giants like Google, Apple, Amazon or Tencent have established vast digital ecosytems which represent a fundamental transformation of capitalism. The liberal understanding of the market as a tool for free exchange of goods and services, knowledge and innovation, has gone out of the window. The internet meta-platforms own and control today's marketplace - and with it: the trajectory of the economy. Philipp Staab examines the historical roots of these developments and the contemporary forms they have produced. He shows how digital surveillance practices are used to control and manipulate entire markets, how the same type of algorithmic management is employed in the digital labour process, and how these processes exacerbate social inequality. What is specific to digital capitalism, Staab argues, is the emergence of 'proprietary markets'. This marks end of the liberal notion of the economy. The conflicts over its future will be decisive for life chances in digital capitalism.
Author Biography
Philipp Staab is Professor for the Sociology of the Future of Work at Humbolt-University of Berlin and Einstein Center Digital Future
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Manchester University Press
Manchester University Press is a leading UK publisher known for excellent research in the humanities and social sciences.
View all titlesBibliographic Information
- Publisher Manchester University Press
- Publication Date March 2024
- Orginal LanguageEnglish
- ISBN/Identifier 9781526172167 / 152617216X
- Publication Country or regionUnited Kingdom
- FormatPrint PDF
- Pages200
- ReadershipCollege/higher education; Professional and scholarly
- Publish StatusPublished
- Dimensions234 X 156 mm
- Biblio NotesDerived from Proprietary 5563
- Reference Code14469
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