Giant Firms in the Information Economy

The primary objective of this paper is to present a discussion of the potential significance of giant companies in the emerging new information economy. In the 1970s and discussion of the significance of giant firms would be somewhat uncontroversial. Within economics, the work of, for example, Prais (1976) established empirically the central position of giant firms in market economies. From a more interdisciplinary perspective, theorists (particularly Marxist inspired writers) emphasised the development of a monopoly based capitalism (for example, Baran and Sweezy, 1968; Cowling, 1982). But more recently these established or stylised facts have been questioned. As discussed below, an explicitly small firms literature has developed. This literature is frequently linked to claims that the changing dynamics of modern market economies have undermined the position and significance of giant firms. Other writers, for instance the sociologist Castells (1996) links the very same dynamics to a continued role for giant firms in a globalised world

Monetary Policy in the Information Economy

This paper considers two challenges that improvements in private-sector information-processing capabilities may pose for the effectiveness of monetary policy. It first considers the consequences of improved information about central-bank actions, and argues that the management of expectations will become even more important to effective monetary policy. The paper next considers the consequences of the potential erosion of private-sector demand for central-bank money. This should not fundamentally impair the ability of central banks to achieve their stabilization objectives, though it may require a new approach to the implementation of monetary policy. The advantages of a 'channel' system, in which central-bank standing facilities are the main tool used to control overnight interest rates, are discussed.

Giant Firms in the Information Economy

The primary objective of this paper is to present a discussion of the potential significance of giant companies in the emerging new information economy. In the 1970s and discussion of the significance of giant firms would be somewhat uncontroversial. Within economics, the work of, for example, Prais (1976) established empirically the central position of giant firms in market economies. From a more interdisciplinary perspective, theorists (particularly Marxist inspired writers) emphasised the development of a monopoly based capitalism (for example, Baran and Sweezy, 1968; Cowling, 1982). But more recently these established or stylised facts have been questioned. As discussed below, an explicitly small firms literature has developed. This literature is frequently linked to claims that the changing dynamics of modern market economies have undermined the position and significance of giant firms. Other writers, for instance the sociologist Castells (1996) links the very same dynamics to a continued role for giant firms in a globalised world.

Nothing But Net: American Workers and the Information Economy

Explores the implications of the information economy for American workers, including worker experience with computers, perceptions about their future in the information economy, and the role of government in how technology affects jobs and prosperity in the information age

The Labour Market in the New Information Economy

The extension of information and communication technologies to economic activity is changing the labour market in important ways. This article shows that computerization and use of the Internet are associated with greater hours worked as well as higher wages; that IT occupations are rapidly increasing their share of employment; that job search and recruitment are moving rapidly to the Web, with consequences for matching employers and employees; and possibly most important of all, that trade unions have begun to use the Internet as a tool for servicing members and carrying their message to the public, raising the possibility of a major change in the nature of the union movement.

Sean Sayers' Concept of Immaterial Labor and the Information Economy

The concept “immaterial labor” is one of the most hotly debated topics in contemporary social theory. In his 2007 work The Concept of Labor: Marx and His Critics, Sean Sayers offered an extensive response to several critical redefinitions of labor (Habermas, Benton, Arendt) and immaterial labor (Lazzarato, Hardt and Negri). Sayers returned to the subject in his more recent book, Marx and Alienation: Essays on Hegelian Themes.1 As one of the few accounts that contests the contemporary Marx critics with regard to fundamental concepts such as labor and immaterial labor, his contribution should be taken seriously