This Element examines the current crisis of capitalism's legitimacy and concludes that it derives principally from business pursuing an aberration of capitalism known as shareholder capitalism, in which firms sought to maximize shareholder value as reflected in the current share price, at the expense of all other stakeholders and society. Shareholder capitalism began in the 1970s and was renounced by the Business Roundtable in 2019, but continues behind a façade of stakeholder capitalism. Stakeholder capitalism is the most widely cited form of capitalism today, but it is incoherent as a practical guide to action for an entire firm. This Element concludes that a recent evolution of capitalism--customer capitalism--which gives primacy to co-creating value for customers and users, enables firms to master the challenges of the digital age, shower benefits on society, and meet the needs of all the stakeholders.

From the New York Times bestselling author of Big Data, a prediction for how data will revolutionize the market economy and make cash, banks, and big companies obsolete In modern history, the story of capitalism has been a story of firms and financiers. That's all going to change thanks to the Big Data revolution. As Viktor Mayer-Schörger, bestselling author of Big Data, and Thomas Ramge, who writes for The Economist, show, data is replacing money as the driver of market behavior. Big finance and big companies will be replaced by small groups and individual actors who make markets instead of making things: think Uber instead of Ford, or Airbnb instead of Hyatt. This is the dawn of the era of data capitalism. Will it be an age of prosperity or of calamity? This book provides the indispensable roadmap for securing a better future.

Discusses how data is replacing money as the driver of market behavior and shares predictions for how data will revolutionize the market economy and make cash, banks, and big companies obsolete.

The book publishing industry is going through a period of profound and turbulent change brought about in part by the digital revolution. What is the role of the book in an age preoccupied with computers and the internet? How has the book publishing industry been transformed by the economic and technological upheavals of recent years, and how is it likely to change in the future? This is the first major study of the book publishing industry in Britain and the United States for more than two decades. Thompson focuses on academic and higher education publishing and analyses the evolution of these sectors from 1980 to the present. He shows that each sector is characterized by its own distinctive ‘logic’ or dynamic of change, and that by reconstructing this logic we can understand the problems, challenges and opportunities faced by publishing firms today. He also shows that the digital revolution has had, and continues to have, a profound impact on the book publishing business, although the real impact of this revolution has little to do with the ebook scenarios imagined by many commentators. Books in the Digital Age will become a standard work on the publishing industry at the beginning of the 21st century. It will be of great interest to students taking courses in the sociology of culture, media and cultural studies, and publishing. It will also be of great value to professionals in the publishing industry, educators and policy makers, and to anyone interested in books and their future.

This book explores the new terrain of network capitalism through the transformations of the discourse on technology. Rather than viewing such discourse as either a true or false reflection of reality, Fisher evaluates the ideological role that technology discourse plays in the legitimation of a new form of capitalism. Based on an extensive empirical analysis, the book argues that contemporary technology discourse at one and the same time promises more personal empowerment through network technology and legitimates a more privatized, flexible, and precarious economic constellations. Such discourse signals a new tradeoff in the political culture of capitalism, from a legitimation discourse which emphasizes the capacity of technology and technique to bring about social emancipation (through equality, stability, and security) to a legitimation discourse which focuses on the capacity of technology to bring about individual emancipation (through individual empowerment, authenticity, creativity, and cooperation). Contrary to the prevailing assumption that sees network technology as liberating from the rigidity and pitfalls of a stifling, Fordist capitalism, the book offers a theoretical framework which sees contemporary technology discourse as an ideology that legitimates the economic, social, and political arrangements of the new capitalism.

"Rep Ro Khanna offers a revolutionary roadmap to facing America's digital divide. In Khanna's vision, "just as people can move to technology, technology can move to people. People need not be compelled to move from one place to another to reap the benefits offered by technological progress" (from the foreword by Amartya Sen, Nobel Laureate in Economics)"--

When Robin Chase cofounded Zipcar, she not only started a business but established the foundation for one of the most important economic and social ideas of our time: the collaborative economy. With this important book, she broadens our thinking about the ways in which the economy is being transformed and shows how the Peers Inc model is changing the very nature of capitalism. When the best of people power is combined with the best of corporate power to form "Peers Inc" organizations, a potent creative force is released. The "Inc" in these collaborations delivers the industrial strengths of significant scale and resources, and the "Peers" bring together the individual strengths of localization, specialization, and customization, unlocking the power of the collaborative economy. When excess capacity is harnessed by the platform and diverse peers participate, a completely new dynamic is unleashed. In Peers Inc, Robin Chase brings her provocative insights to work, business, the economy, and the environment, showing: How focusing on excess capacity transforms the economics of what's possible and delivers abundance to all How the new collaboration between the Inc and the Peers enables companies to grow more quickly, learn faster, and deliver smarter products and services How leveraging the Peers Inc model can address climate change with the necessary speed and scale How the Peers Inc model can help legacy companies overcome their shortening life cycle by inviting innovation and evolution Why power parity between the Peers and the Inc is a prerequisite for long-term success How platforms can be built within the existing financial system or outside of it What government can do to enhance economic possibility and protect people working in this new decentralized world Chase casts a wide net, illuminating the potential of the Peers Inc model to address broader issues such as climate change and income inequality, and proves the impact that this innovative economic force can have on the most pressing issues of our time.