Tim W. Shenk
This article was written based on a discussion in the University of the Poor Political Economy group on Ryan Avent’s June 2018 article, “A Digital Capital That Marx Might Enjoy” published in MIT Technology Review. This article is a product of the collective intelligence of the UPoor Political Economy group, reflecting the comments of the group’s members.
On the topic of digital technology and automation, the business world has woken up to concerns that organized auto workers in Detroit have been raising since the 1970s.
Digital technology and artificial intelligence have revolutionized the way business is done in every major industry. Technology no longer simply reduces the need for human labor in production and circulation. In many cases, computers and robots replace people altogether.
Labor-replacing technology has transformed industries from Southern agriculture to Northern manufacturing since the middle of last century, with the mechanical cotton picker and the mechanization of auto plants as two examples. Read more “Digital Capital Is Still Capital, And There Is Nothing About It That Marx Would Enjoy”