The Virtual Debt Factory: Towards an Analysis of Debt and Abstraction in the American Credit Crisis

Emanating from the United States, the ongoing global credit crisis has provided important insights into a shady new area of capitalist exploitation: the consumer debt factory. In an effort to speed up and quantifiably increase the circula-tion of consumer credit to match the consumption needs of post-Fordist accumulation, this industry—comprising financial institutions, consumer database companies, and credit rating agencies—has created a highly detailed body of information to stand-in for the corporeal self. This paper therefore examines this industry’s conceptualization of the self as a disembodied mechanism for mass-producing debt, creating a highly volatile informational commodity divorced from all material con-straints. In using the credit crisis as a focal point, this paper considers how the far-reaching credit apparatus at the heart of the debt factory gives rise to the fatal abstractions that support, and ultimately undermine, contemporary capitalist economies.By substituting data for flesh, the credit industry has created an antagonism between the material and informational forms of the self, resulting in the construction of a virtual debtors prison. The ensuing analysis will highlight both the ex- ploitative nature of this bifurcation as well as its profound contradictions

“All the world’s a shopping cart”: Theorizing the political economy of ubiquitous media and markets

Ubiquitous connectivity to networked information-communication technologies increasingly mediates social experiences of markets and retail environments. These conditions lead some marketing scholars to conclude that digital media are reaching their inevitable culmination: an omnipresent marketplace. They call this “ubiquitous commerce” (u-commerce). U-commerce annihilates constraints over markets; borders, cultural differences, and geography cease to impose friction on exchange. As part of a broader understanding of new media and marketing, u-commerce deserves attention from critical communication studies. In foregrounding concerns of space, time, and consciousness, u-commerce exemplifies a commercial theory of media and invites critique at the nexus of medium theory and political economy. The work of Harold Innis is uniquely suited to this task. This article contextualizes and identifies biases in the conceptual systems and infrastructures of u-commerce

Rising tides? Data capture, platform accumulation, and new monopolies in the digital music economy

This article examines the roles of platform-based distribution and user data in the digital music economy. Drawing on trade press, newspaper coverage, and a consumer privacy complaint, we offer a critical analysis of tech-music partnerships forged between Samsung and Jay-Z (2013), Apple iTunes Store and U2 (2014), Tidal and Kanye West (2016), and Apple Music and Drake (2017). In these cases, information technology (IT) companies supported album releases, and music was used to generate user data and attention: logics of data and attention capture were interwoven. The IT and music industries have adapted their business strategies to what we conceptualize as platform-based capital accumulation or ‘platform accumulation’, and models centred on controlling access and extracting rent have enabled the emergence of new monopolies and IT gatekeepers

On the Transactional Ecosystems of Digital Media

This article contributes a framework for understanding the convergence of two ‘transactional ecosystems’ or, put differently, the convergence of two types of currency: money and attention. The former is represented in the push to make commercial transactions ubiquitous and seamless (e.g. as in mobile payment systems), while the latter is represented by theories of the ‘attention economy’ and subsumed in the ‘attention and engagement’ metrics that currently shape the production and distribution of content on digital and mobile platforms. The means of communication and commerce, of payment and attention, are increasingly wedded together in the same device or platform implying that how we pay for things is bound up with ‘the things to which we attend’. Drawing on literature on the political economy of media, this article provides historical and theoretical contexts for this convergence, offers some paradigmatic examples alongside industry analysis and concludes by raising potential concerns emerging from its current trajectory