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The commodification of knowledge and information

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  • Rotta, Tomás N.
  • Teixeira, Rodrigo A.

Abstract

In this paper we present an analysis of the commodification of knowledge and information in contemporary capitalism. We provide a consistent account of how information as a commodity effects the workings of both capitalism and of Marxist theory. The first part of the paper critically revisits Marx’s own writings on the commodification of knowledge and how the immaterial labour hypothesis initially interpreted these writings. Based on the new categories knowledge-commodity and knowledge-rent, we then present our own approach in response to the challenges raised by the immaterial labour hypothesis. Lastly, we analyse the more recent contributions on the commodification of knowledge and information within the Marxist literature. The current debate on the value of knowledge has been divided between two camps: the reproduction cost approach, and the average cost approach. At the end of the paper we present empirical estimates of the magnitudes of knowledge-rents.

Suggested Citation

  • Rotta, Tomás N. & Teixeira, Rodrigo A., 2018. "The commodification of knowledge and information," Greenwich Papers in Political Economy 19448, University of Greenwich, Greenwich Political Economy Research Centre.
    • Handle: RePEc:gpe:wpaper:19448
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    File URL: http://gala.gre.ac.uk/id/eprint/19448/13/19448%20Rotta%20and%20Teixeira%202018%20Commodification%20of%20Knowledge%20and%20Information%20200618%20GPERC%20wp3.pdf
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    References listed on IDEAS

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    1. Shavell, Steven & van Ypersele, Tanguy, 2001. "Rewards versus Intellectual Property Rights," Journal of Law and Economics, University of Chicago Press, vol. 44(2), pages 525-547, October.
    2. Duncan K. Foley, 2013. "Rethinking Financial Capitalism and the “Information†Economy," Review of Radical Political Economics, Union for Radical Political Economics, vol. 45(3), pages 257-268, September.
    3. Carlo Vercellone, 2007. "From Formal Subsumption to General Intellect: Elements for a Marxist Reading of the Thesis of Cognitive Capitalism, in Historical Materialism," Post-Print halshs-00263661, HAL.
    4. Christian Fuchs, 2017. "The Information Economy and the Labor Theory of Value," International Journal of Political Economy, Taylor & Francis Journals, vol. 46(1), pages 65-89, January.
    5. Heesang Jeon, 2011. "The Value and Price of Information Commodities: An Assessment of the South Korean Controversy," Research in Political Economy, in: Revitalizing Marxist Theory for Today's Capitalism, pages 191-222, Emerald Group Publishing Limited.
    6. Carlo Vercellone, 2007. "From Formal Subsumption to General Intellect: Elements for a Marxist Reading of the Thesis of Cognitive Capitalism, in Historical Materialism," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00263661, HAL.
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    More about this item

    Keywords

    Knowledge-commodities; knowledge-rents; value theory; Marx; immaterial labor;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • L00 - Industrial Organization - - General - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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