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Big tech and platform-enabled multinational corporate capital(ism): the socialisation of capital, and the private appropriation of social value

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  • Christos Pitelis

Abstract

I explore the relationship between theory and prediction in political economy and organisational economics, employing the works of Keith Cowling and Stephen Hymer as case examples of prediction-aiding good theory. I develop the insights of the two scholars by leveraging key ideas from classical economics and applying the result to the platform-enabled, market-assisted organisational economy. Based on that I suggest that the emergence and rise of platform-enabled Big Tech, unicorns and the ‘sharing economy’ are both aligned with and partly predictable. I go on to hazard some further predictions about the future of the corporation and capitalism and discuss research opportunities.

Suggested Citation

  • Christos Pitelis, 2022. "Big tech and platform-enabled multinational corporate capital(ism): the socialisation of capital, and the private appropriation of social value," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 46(6), pages 1243-1268.
    • Handle: RePEc:oup:cambje:v:46:y:2022:i:6:p:1243-1268.
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    File URL: http://hdl.handle.net/10.1093/cje/beac042
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