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A model of Cognitive Capitalism: a preliminary analysis

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  • Fumagalli, Andrea
  • Lucarelli, Stefano

Abstract

The aim of this paper is to present a first theoretical macro-modelling of cognitive capitalism, by utilizing the French regulation theory approach. With regard to the supply side analysis, we shall emphasize the role played by productivity dynamics: it is mainly affected by two types of dynamics: scale economics, based on learning processes and network activity. Turning to demand-side aspects, aggregate demand takes in account also the role played by distribution effects of financial markets, which operates as a distorsive income multiplier. As, on the one side, it depends upon the trade-off between learning processes diffusion and intellectual property rights and, on the other, upon income polarization (due to precariousness and limited access to capital gains) and demand growth stability. The stability of the system cannot be guaranteed. The need for new rules concerning income distribution process (i.e. basic income policy) will be taken in consideration.

Suggested Citation

  • Fumagalli, Andrea & Lucarelli, Stefano, 2007. "A model of Cognitive Capitalism: a preliminary analysis," MPRA Paper 28012, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:28012
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    References listed on IDEAS

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    1. Didier Lebert & Carlo Vercellone, 2006. "Il ruolo della conoscenza nella dinamica di lungo periodo del capitalismo," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01213608, HAL.
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    7. Malerba, Franco & Orsenigo, Luigi, 2000. "Knowledge, Innovation Activities and Industrial Evolution," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 9(2), pages 289-313, June.
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    Cited by:

    1. Claude Gnos & Louis-Philippe Rochon (ed.), 2011. "Credit, Money and Macroeconomic Policy," Books, Edward Elgar Publishing, number 13254.
    2. Andrea Fumagalli & Stefano Lucarelli, 2011. "Instability and Uncertainty in Cognitive Capitalism," Chapters, in: Claude Gnos & Louis-Philippe Rochon (ed.), Credit, Money and Macroeconomic Policy, chapter 15, Edward Elgar Publishing.

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    More about this item

    Keywords

    Cognitive Capitalism; Knowledge; Learning Processes; Network Economies; General Intellect; Capital Gains; Basic Income;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • P17 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Performance and Prospects
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)

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