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The consumption dilemma of digital capitalism

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  • Philipp Staab

    (Institute for the History and Future of Work, Germany)

Abstract

In the light of the growth crisis of contemporary capitalism, the digitalisation of the economy fosters hopes for spectacular productivity gains, giving economic growth a new impetus. However, such predictions ignore the fact that the growth crisis of contemporary capitalism is mainly a result of weak private demand. I argue that digitalisation represents a macro-strategy for economic transformation explicitly tackling this aspect. However, while several strategies aimed at rationalising consumption can be observed in leading digital economy companies, instead of solving the consumption problem by increasing demand, they tend to exacerbate the structural weakness of consumption. I coin the term ‘consumption dilemma’ to mark this phenomenon and briefly stress its implications for union policies.

Suggested Citation

  • Philipp Staab, 2017. "The consumption dilemma of digital capitalism," Transfer: European Review of Labour and Research, , vol. 23(3), pages 281-294, August.
    • Handle: RePEc:sae:treure:v:23:y:2017:i:3:p:281-294
    DOI: 10.1177/1024258917702830
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    References listed on IDEAS

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    1. Stephen Cecchetti & Madhusudan Mohanty & Fabrizio Zampolli, 2011. "The real effects of debt," BIS Working Papers 352, Bank for International Settlements.
    2. Jean-Charles Rochet & Jean Tirole, 2003. "Platform Competition in Two-Sided Markets," Journal of the European Economic Association, MIT Press, vol. 1(4), pages 990-1029, June.
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    Cited by:

    1. Hannah Bensussan, 2023. "Understanding the paradox of control and freedom of consumption under digital capitalism with Stafford Beer's cybernetic theory," Working Papers hal-04050331, HAL.
    2. Xie, Chengyuan & Jin, Xiaotong, 2023. "The role of digitalization, sustainable environment, natural resources and political globalization towards economic well-being in China, Japan and South Korea," Resources Policy, Elsevier, vol. 83(C).
    3. Hannah Bensussan, 2023. "Understanding the paradox of control and freedom of consumption under digital capitalism with Stafford Beer's cybernetic theory," CEPN Working Papers hal-04050331, HAL.

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