A model of Cognitive Capitalism: a preliminary analysis

Fumagalli, Andrea and Lucarelli, Stefano (2007): A model of Cognitive Capitalism: a preliminary analysis. Published in: European Journal of Economic and Social Systems , Vol. 20, No. 1 (2007): pp. 117-133.

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.

• Item Type: MPRA Paper
• Language: English
• Keywords: Cognitive Capitalism, Knowledge, Learning Processes, Network Economies, General Intellect, Capital Gains, Basic Income
• Subjects: E - Macroeconomics and Monetary Economics > E1 - General Aggregative Models > E12 - Keynes ; Keynesian ; Post-Keynesian; P - Economic Systems > P1 - Capitalist Systems > P17 - Performance and Prospects; B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B50 - General; E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E20 - General

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