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The Capitalism of financial market and the control of cognitive (In French)


  • François MORIN (LEREPS-GRES)


The aim of this paper is to question the cognitive capitalism hypothesis: are the major transformations of the wage labour nexus and regime of accumulation, created a new capitalism era? A positive answer to this question then relegates to a second rank the thesis of financial capitalism. For this last thesis, the financialisation of accumulation deeply transforms the firms. This paper develops this second point of view. Our conclusion is disappointing for the cognitive capitalism hypothesis. If the production of knowledge is important for the accumulation, nevertheless this production of knowledge is subordinated to the view of global finance. Indeed, it’s this global finance who decides which are new profitable activities.

Suggested Citation

  • François MORIN (LEREPS-GRES), 2006. "The Capitalism of financial market and the control of cognitive (In French)," Cahiers du GRES (2002-2009) 2006-05, Groupement de Recherches Economiques et Sociales.
  • Handle: RePEc:grs:wpegrs:2006-05

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    References listed on IDEAS

    1. repec:hrv:faseco:30728046 is not listed on IDEAS
    2. Daniel Baudru & Stéphanie Lavigne, 2001. "Investisseurs institutionnels et gouvernance sur le marché financier français," Revue d'Économie Financière, Programme National Persée, vol. 63(3), pages 91-105.
    3. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    4. Armen A. Alchian, 1950. "Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, University of Chicago Press, vol. 58, pages 211-211.
    5. Ancori, Bernard & Bureth, Antoine & Cohendet, Patrick, 2000. "The Economics of Knowledge: The Debate about Codification and and Tacit Knowledge," Industrial and Corporate Change, Oxford University Press, vol. 9(2), pages 255-287, June.
    6. Shleifer, Andrei & Vishny, Robert W, 1997. " A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-783, June.
    7. L. Randall Wray & Stephanie Bell, 2004. "Introduction," Chapters,in: Credit and State Theories of Money, chapter 1 Edward Elgar Publishing.
    8. Esther Jeffers & Dominique Plihon, 2001. "Investisseurs institutionnels et gouvernance des entreprises," Revue d'Économie Financière, Programme National Persée, vol. 63(3), pages 137-152.
    9. Patrick Cohendet & Patrick Llerena, 1999. "La conception de la firme comme processeur de connaissances," Revue d'Économie Industrielle, Programme National Persée, vol. 88(1), pages 211-235.
    10. Philippe Robert-Demontrond & R. Ringoot, 2004. "Introduction," Post-Print halshs-00081823, HAL.
    11. Dominique Plihon & Jean-Pierre Ponssard & Philippe Zarlowski, 2001. "Quel scénario pour le gouvernement d’entreprise ? Une hypothèse de double convergence," Revue d'Économie Financière, Programme National Persée, vol. 63(3), pages 35-51.
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    More about this item


    Cognitive capitalism; Capitalism of financial market; Firm; Production of knowledge; Financialisation;

    JEL classification:

    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • F30 - International Economics - - International Finance - - - General
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • L0 - Industrial Organization - - General
    • P1 - Economic Systems - - Capitalist Systems

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    1. Capitalismo cognitivo in Wikipedia Italian ne '')


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