Has Exploitation Transformed? A Critical Analysis of the Theory of Cognitive Capitalism
In this article we critically analyze the theory of cognitive capitalism as developed by Yann Moulier Boutang in his book of that name. He emphasizes a new category of exploitation, seeks to explain the behavior of finance capital, and foretells a coming dominance by cognitive capitalism over industrial capitalism. While his theory has merit and is a useful starting point for further analysis of the interaction between digital technology and capitalism, it has major flaws in: Its treatment of financialization, the employment relationship, and the power and dominance of large industrial corporations; its claims regarding the alleged superiority of cognitive capitalism; and its exposition of a second category of exploitation.