Technocapitalism

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Technocapitalism or tech-capitalism refers to changes in capitalism associated with the emergence of new technology sectors, the power of

digital networks and platforms.[1][2][3][4][5][6]

Corporate power and organization

Luis Suarez-Villa, in his 2009 book Technocapitalism: A Critical Perspective on Technological Innovation and Corporatism argues that it is a new version of capitalism that generates new forms of corporate organization designed to exploit intangibles such as creativity and new knowledge.[7] The new organizations, which he refers to as experimentalist organizations are deeply grounded in technological research, as opposed to manufacturing and services production. They are also heavily dependent on the corporate appropriation of research outcomes as intellectual property.

This approach is further developed by Suarez-Villa in his 2012 book Globalization and Technocapitalism: The Political Economy of Corporate Power and Technological Domination, in which he relates the emergence of technocapitalism to

military-industrial complex
of the second half of the 20th century.

The concept behind technocapitalism is part of a line of thought that relates

John Bernal, posited that science has a social function, and cannot be seen as something apart from society.[9] Other scientists at that time, such as John Haldane, related science to social philosophy, and showed how critical approaches to social analysis are very relevant to science, and to our understanding of the need for science.[10] In our time, this line of thought has encouraged philosophers such as Andrew Feenberg to adopt and apply a critical theory approach to technology and science, providing many important insights on how scientific and technological decisions—and their outcomes—are shaped by society, and by capitalism and its institutions.[11]

The term technocapitalism has been used by one author to denote aspects and ideas that diverge sharply from those explained above. Dinesh D'Souza, writing about Silicon Valley in an article, used the term to describe the corporate environment and venture capital relationships in a high tech-oriented local economy. His approach to the topic was consonant with that of business journals and the corporate management literature. Some newspaper articles have also used the term occasionally and in a very general sense, to denote the importance of advanced technologies in the economy.

Forms of tech capitalism

Tech capitalism can take many forms such as IP based financing where patents and registered IP of new technology is an instrument for building capitalism,[12] debt based equity where new and innovative technology is used as the security interest for securing financing or leasing, and ICOs such as Blockchain capital.[13]

See also

References

  1. doi:10.23987/sts.55133
    .
  2. doi:10.1046/j.0017-4815.2003.00227.x
    .
  3. doi:10.1163/15691497-12341538
    .
  4. ISBN 9780691175034
    .
  5. ISBN 9781439900437
    .
  6. ISBN 9781315585123
    .
  7. ISBN 9781439900437
    .
  8. ISBN 9781315585123
    .
  9. ^ John D. Bernal, The Social Function of Science (New York: Macmillan, 1939).
  10. ^ John B. S. Haldane, Dialectical Materialism and Modern Science (London: Labour Monthly, 1942).
  11. ^ Andrew Feenberg, Critical Theory of Technology (New York: Oxford University Press, 1991).
  12. ^ Business Bank, British. "Using Intellectual Property to secure finance" (PDF). UK Govt Publishing Services. British Business Bank. Retrieved 18 February 2019. {{cite web}}: |last1= has generic name (help)
  13. ^ Popper, Nathaniel (27 October 2017). "An explanation of ICOs". No. NY Times Online. NY Times. New York Times. Retrieved 18 February 2019.

External links

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