Summary of Information Capitalism – Hirschl_Notes

Summary of Information Capitalism – Hirschl_Notes

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Summary of Information Capitalism – Hirschl History of Informational Capitalism Events of 1970s-1980s shifted the world economy, ideology and social structure. o Oil crisis o International lending o Decolonization o Globalization – industrial shift from N. to S. – what does this mean for labor costs and thus profits? o New primitive accumulation in the way of privatization of information – patents, copyrights, seeds, medicines Labor no longer takes the form of physical processing but the form of mental processing (research, design, planning, consulting). Information Capitalism Industrial production (traditional labor) has been outsourced. Currently information/knowledge is produced that is sold as a commodity and also used to increase the value of the commodity. Knowledge has a price through the patent system (privatization of knowledge creates value) For Hirschl, wageless production is the “final crisis” of capitalism because surplus value in capitalism comes only from unpaid human labor. If there is no longer
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Summary of Information Capitalism – Hirschl_Notes

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