Theory in a Digital Age: A Project of English 483 Students, Coastal Carolina University

Information Economy

Mason explains in his article “The End of Capitalism Has Begun” that post-capitalism is possible through three things provided by information technology. The first of these is that the need for work has been reduced. The production of machines and automated labor have significantly changed the human workforce in terms of production. Think of car manufacturing. This also means the lines between work and free time are blurred (Mason). Mass amounts of data is produced when people spend time on Facebook, which is then used in algorithms to predict spending habits.

           An abundance in information is “corroding the market’s ability to form prices correctly” (Mason). Business markets are based on scarcity where information is profuse. Ideas are being used freely and business models cannot keep up. The worth of information is difficult to put a number on. “The knowledge content of products is becoming more valuable than the physical things that are used to produce them” (Mason). But the value is based on usefulness not its exchange value.

         

This page has paths:

  1. Introduction Madeline Shaw
  2. What's Next Madeline Shaw

Contents of this path:

  1. The Aesthetics of Commodities and the Simulacrum
  2. Antagonism of Capitalism
  3. The Long Tail
  4. Rise of Digital Labor
  5. What's Next

This page references: