Cognitive Capitalism

We live in a time of transition, argues Yann Moulier Boutang. But the irony is that this is not a transition to a new type of society called ‘socialism’, as many on the Left had assumed; rather, it is a transition to a new type of capitalism. Socialism has been left behind by a new revolution in our midst. ‘Globalization’ effectively corresponds to the emergence, since 1975, of a third kind of capitalism. It does not have much to do with the industrial capitalism which, at the point of its birth (1750-1820), broke with earlier forms of mercantile capitalism. The aim of this book is to describe and explain the characteristics of this third age of capitalism.Boutang coins the term ‘cognitive capitalism’ to describe this new form of capitalism. While this notion remains a working hypothesis, it already provides some basic orientations and anchor points which are indispensible for political action. The political economy which was born with Adam Smith no longer offers us the possibility of understanding the reality which is being constructed before our eyes Ð namely the value, wealth and complexity of the world economic system Ð and it also does not enable us to deal with the challenges that await humanity, whether ecological or social. This book thus seeks to put us onto the path of a provisional politics and morality capable of dealing with this new Great Transformation.

* This book argues that we are undergoing a transition from industrial capitalism to a new form of capitalism - what the author calls ‘cognitive capitalism’.
* Cognitive capitalism is a form of capitalism based on the accumulation of 'immaterial capital', the dissemination of knowledge and the driving role of the knowledge economy. Knowledge, science and technology become leading productive forces, and cooperation within networks becomes crucial.
* The author argues that the fact that we now live in a new form of capitalist society, characterized by the central role of knowledge and networks, has far-reaching social and political implications which are spelled out in this book.
* The arguments of this book resonate with those developed by Hardt and Negri in their bestselling book Empire and this book will appeal to a similar readership. It will also appeal to students and scholars in sociology, politics, cultural studies and the humanities and social sciences generally.

Yann Moulier Boutang is professor of economics at Universite de Technologie de Compiegne.