Synopsis
The promise of the New Economy gone, we have regressed into the age of techno-feudalism
The rise of the IT industry in the nineties promised a new era of freedom and prosperity. It didn’t deliver. Certainly, algorithms are everywhere, but capitalism is no more civilised than ever.
In fact, in the hands of private corporations, the digitalisation of the world drives us towards a darker future. The return of monopolies, the dominance of a few platforms, the blurred distinction between the economic and the political all epitomise a systemic mutation. Information and data networks push the digital economy in the direction of the feudal logic of rent, dispossession, and personal domination.
How Silicon Valley Unleashed Techno-feudalism offers a fresh genealogy of the Silicon Valley consensus and its contradictions. It disentangles the principles of an emerging systemwide rationale. Large firms compete in cyberspace to gain control over data, and ordinary people are increasingly at the mercy of tech giants. In this new economic order, capital is moving away from production to focus on predation.
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About the Author
Cédric Durand is Professor of Political Economy at the University of Geneva and a member of the Centre d'économie Paris Nord. He is the author of Fictitious Capital: How Finance Appropriates Our Future. He is a regular contributor to the online journal Contretemps and to Sidecar, the blog of the New Left Review.
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How Silicon Valley Unleashed Techno-Feudalism : The Making of the Digital Economy
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Hardcover. Condition: new. Hardcover. Inequality, stagnant productivity, endemic instability. The new economy has not arrived. Algorithms are ubiquitous, but this does not mean that capitalism has become civilized. On the contrary.Instead, as a result of the digitalization of the world, a great regression has occurred. The return of monopolies, the dependence of subjects on platforms, the blurring of the distinction between the economic and the political: the mutations at work are transforming the quality of social processes and giving a new relevance to feudalism. Techno-feudalism reconfigures a history if the Silicon Valley consensus and highlights the five paradoxes that undermine it. The central thesis is then unfolded, punctuated by developments on GAFAs, global value chains or the Chinese social credit system. Large firms compete in cyberspace to gain control over data sources. Subjects are attached to the digital glebe. In the emerging economic order, capital is moving away from production to focus on predation. The promise of the New Economy gone, we have regressed into the age of techno-feudalism Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9781804294383
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Hardback. Condition: New. The rise of the IT industry in the nineties promised a new era of freedom and prosperity. It didn't deliver. Certainly, algorithms are everywhere, but capitalism is no more civilised than ever. In fact, in the hands of private corporations, the digitalisation of the world drives us towards a darker future. The return of monopolies, the dominance of a few platforms, the blurred distinction between the economic and the political all epitomise a systemic mutation. Information and data networks push the digital economy in the direction of the feudal logic of rent, dispossession, and personal domination.How Silicon Valley Unleashed Techno-feudalism offers a fresh genealogy of the Silicon Valley consensus and its contradictions. It disentangles the principles of an emerging systemwide rationale. Large firms compete in cyberspace to gain control over data, and ordinary people are increasingly at the mercy of tech giants. In this new economic order, capital is moving away from production to focus on predation. Seller Inventory # LU-9781804294383
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Hardback. Condition: New. The rise of the IT industry in the nineties promised a new era of freedom and prosperity. It didn't deliver. Certainly, algorithms are everywhere, but capitalism is no more civilised than ever. In fact, in the hands of private corporations, the digitalisation of the world drives us towards a darker future. The return of monopolies, the dominance of a few platforms, the blurred distinction between the economic and the political all epitomise a systemic mutation. Information and data networks push the digital economy in the direction of the feudal logic of rent, dispossession, and personal domination.How Silicon Valley Unleashed Techno-feudalism offers a fresh genealogy of the Silicon Valley consensus and its contradictions. It disentangles the principles of an emerging systemwide rationale. Large firms compete in cyberspace to gain control over data, and ordinary people are increasingly at the mercy of tech giants. In this new economic order, capital is moving away from production to focus on predation. Seller Inventory # LU-9781804294383
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