Crisis of Value Theory - P2P Foundation - 0 views
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Michel Bauwens Kevin Carson capitalism alternative economy paper
shared by Kurt Laitner on 11 Jul 12
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accumulation of knowledge assets
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In terms of knowledge creation, a vast new information commons is being created, which is increasingly out of the control of cognitive capitalism.
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The emergence of the peer model of production, based on the non-rivalrous nature and virtually non-existent marginal cost of reproduction of digital information, and coupled with the increasing unenforceability of “intellectual property” laws, means that capital is incapable of realizing returns on ownership in the cognitive realm.
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capital is becoming an a posteriori intervention in the realization of innovation, rather than a condition for its occurrence
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What this announces is a crisis of value, most such value is ‘beyond measure’, but also essentially a crisis of accumulation of capital.
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“the core logic of the emerging experience economy, operating as it does in the world of non-rival exchange, is unlikely to have capitalism as its core logic.”
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This takes the form both of “intellectual property” law, as well as direct subsidies from the taxpayer to the corporate economy
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crisis of realization under state capitalism to capital’s growing dependence on the state to capture value from social production and redistribute it to private corporate owners
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The state capitalist system will reach a point at which, thanks to the collapse of the portion of value comprised of rents on artificial property, the base of taxable value is imploding at the very time big business most needs subsidies to stay afloat.
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We live in a political economy that has it exactly backwards. We believe that our natural world is infinite, and therefore that we can have an economic system based on infinite growth. But since the material world is finite, it is based on pseudo-abundance. And then we believe that we should introduce artificial scarcities in the world of immaterial production, impeding the free flow of culture and social innovation, which is based on free cooperation, by creating the obstacle of permissions and intellectual property rents protected by the state. What we need instead is a political economy based on a true notion of scarcity in the material realm, and a realization of abundance in the immaterial realm.
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The household and informal economies have been allowed to function to the extent that they bear reproduction costs that would otherwise have to be internalized in wages; but they have been suppressed (as in the Enclosures) when they threaten to increase in size and importance to the point of offering a basis for independence from wage labor. “
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Brains and bodies still need others to produce value, but the others they need are not necessarily provided by capital and its capacities to organize production.
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one of intensive development, to grow in the immaterial field, and this is basically what the experience economy means