The Financial Logic of Internet Platforms: The Turnover Time of Money at the Limit of Zero
In the first two sections of Capital, Volume 2, Marx examines the factors that pressure capital to reduce its circulation and turnover times at the limit of zero. By doing so, he shines a light on the role played by transportation and communications industries in the accumulation process and the reasons that these sectors are important frontiers of productive capital investment and surplus value extraction. This article suggests how the Internet’s social-digital platforms, such as Google, Facebook, Amazon and Airbnb, work according to the logic expounded by Marx, thus generating extraordinary profits for financial capital. Also, because of this Marxian logic, the main source of these huge platforms’ profits is the informational work done by millions of people who access these websites to engage in recreational activities or to meet the demands for goods and services in a Society of the Spectacle (Debord) subsumed into commodity fetishism.
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