Accounting for e-commerce: Abstractions, virtualism and the cultural circuit of capital

This paper considers the phenomenon of e-commerce as an achievement of serial acts of representation and re-representation. Drawing upon the concepts of virtualism and the cultural circuit of capital, we attempt to demonstrate the material consequences of economic abstractions. The paper looks at the constitutive role of virtualism within the development of a domain called e-commerce. Mobilized by a heterodox group of actors, including academics, consultants, journalists and practitioners, abstractions demonstrated considerable agency in the construction of e-commerce, and were used in an attempt to demonstrate that a new, and potentially hyper-profitable, form of capitalism was being born. This paper undertakes a critical evaluation of these processes and draws attention to the neglected role of the cultural circuit of capital and a range of practical knowledges that are continually being revised and which we argue are equally constitutive of e-commerce. While it is easy to dismiss the promises of e-commerce as so much hyperbole, particularly in the wake of the dot.com crash, we argue that the success of e-commerce is signaled by the fact that it has lost much of its rhetorical power and has faded into the business background. E-commerce now constitutes an increasingly ambient set of technologies and practices. Copyright © 2005 Taylor & Francis Group Ltd