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The commodification of knowledge and information

The commodification of knowledge and information

Rotta, Tomás N. ORCID: 0000-0002-5304-9890 and Teixeira, Rodrigo A. (2018) The commodification of knowledge and information. [Working Paper]

19448 Rotta and Teixeira 2018 Commodification of Knowledge and Information 200618 GPERC wp3.pdf - Published Version
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In this paper we present an analysis of the commodification of knowledge and information in contemporary capitalism. We provide a consistent account of how information as a commodity effects the workings of both capitalism and of Marxist theory. The first part of the paper critically revisits Marx’s own writings on the commodification of knowledge and how the immaterial labour hypothesis initially interpreted these writings. Based on the new categories knowledge-commodity and knowledge-rent, we then present our own approach in response to the challenges raised by the immaterial labour hypothesis. Lastly, we analyse the more recent contributions on the commodification of knowledge and information within the Marxist literature. The current debate on the value of knowledge has been divided between two camps: the reproduction cost approach, and the average cost approach. At the end of the paper we present empirical estimates of the magnitudes of knowledge-rents.

Item Type: Working Paper
Uncontrolled Keywords: Knowledge-commodities, knowledge-rents, value theory, Marx, immaterial labor,
Subjects: H Social Sciences > HM Sociology
Faculty / School / Research Centre / Research Group: Faculty of Business
Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA) > Greenwich Political Economy Research Centre (GPERC)
Last Modified: 04 Aug 2021 16:33

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