Platform capitalism: the intermediation and capitalization of digital economic circulation
A new form of digital economic circulation has emerged, wherein ideas, knowledge, labour and use rights for otherwise idle assets move between geographically distributed but connected and interactive online communities. Such circulation is apparent across a number of digital economic ecologies, incl...
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| Format: | Article |
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Finance and Society
2016
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| Online Access: | https://eprints.nottingham.ac.uk/37514/ |
| _version_ | 1848795475562463232 |
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| author | Langley, Paul Leyshon, Andrew |
| author_facet | Langley, Paul Leyshon, Andrew |
| author_sort | Langley, Paul |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | A new form of digital economic circulation has emerged, wherein ideas, knowledge, labour and use rights for otherwise idle assets move between geographically distributed but connected and interactive online communities. Such circulation is apparent across a number of digital economic ecologies, including social media, online marketplaces, crowdsourcing, crowdfunding and other manifestations of the so-called ‘sharing economy’. Prevailing accounts deploy concepts such as ‘co-production’, ‘prosumption’ and ‘peer-to-peer’ to explain digital economic circulation as networked exchange relations characterised by their disintermediated, collaborative and democratizing qualities. Building from the neologism of platform capitalism, we place ‘the platform’ – understood as a distinct mode of socio-technical intermediary and business arrangement that is incorporated into wider processes of capitalization – at the centre of the critical analysis of digital economic circulation. To create multi-sided markets and coordinate network effects, platforms enrol users through a participatory economic culture and mobilize code and data analytics to compose immanent infrastructures. Platform intermediation is also nested in the ex-post construction of a replicable business model. Prioritizing rapid up-scaling and extracting revenues from circulations and associated data trails, the model performs the structure of venture capital investment which capitalizes on the potential of platforms to realize monopoly rents. |
| first_indexed | 2025-11-14T19:32:41Z |
| format | Article |
| id | nottingham-37514 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| last_indexed | 2025-11-14T19:32:41Z |
| publishDate | 2016 |
| publisher | Finance and Society |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-375142020-05-04T18:05:04Z https://eprints.nottingham.ac.uk/37514/ Platform capitalism: the intermediation and capitalization of digital economic circulation Langley, Paul Leyshon, Andrew A new form of digital economic circulation has emerged, wherein ideas, knowledge, labour and use rights for otherwise idle assets move between geographically distributed but connected and interactive online communities. Such circulation is apparent across a number of digital economic ecologies, including social media, online marketplaces, crowdsourcing, crowdfunding and other manifestations of the so-called ‘sharing economy’. Prevailing accounts deploy concepts such as ‘co-production’, ‘prosumption’ and ‘peer-to-peer’ to explain digital economic circulation as networked exchange relations characterised by their disintermediated, collaborative and democratizing qualities. Building from the neologism of platform capitalism, we place ‘the platform’ – understood as a distinct mode of socio-technical intermediary and business arrangement that is incorporated into wider processes of capitalization – at the centre of the critical analysis of digital economic circulation. To create multi-sided markets and coordinate network effects, platforms enrol users through a participatory economic culture and mobilize code and data analytics to compose immanent infrastructures. Platform intermediation is also nested in the ex-post construction of a replicable business model. Prioritizing rapid up-scaling and extracting revenues from circulations and associated data trails, the model performs the structure of venture capital investment which capitalizes on the potential of platforms to realize monopoly rents. Finance and Society 2016-08-31 Article PeerReviewed Langley, Paul and Leyshon, Andrew (2016) Platform capitalism: the intermediation and capitalization of digital economic circulation. Finance and Society, 2 (1). ISSN 2059-5999 (In Press) digital economy; platform business model; intermediation; capitalization; venture capital http://financeandsociety.ed.ac.uk/index |
| spellingShingle | digital economy; platform business model; intermediation; capitalization; venture capital Langley, Paul Leyshon, Andrew Platform capitalism: the intermediation and capitalization of digital economic circulation |
| title | Platform capitalism: the intermediation and capitalization of digital economic circulation |
| title_full | Platform capitalism: the intermediation and capitalization of digital economic circulation |
| title_fullStr | Platform capitalism: the intermediation and capitalization of digital economic circulation |
| title_full_unstemmed | Platform capitalism: the intermediation and capitalization of digital economic circulation |
| title_short | Platform capitalism: the intermediation and capitalization of digital economic circulation |
| title_sort | platform capitalism: the intermediation and capitalization of digital economic circulation |
| topic | digital economy; platform business model; intermediation; capitalization; venture capital |
| url | https://eprints.nottingham.ac.uk/37514/ https://eprints.nottingham.ac.uk/37514/ |