Paško Bilić, PhD, (IRMO), Toni Prug, PhD, (independent researcher), and Mislav Žitko, PhD, (FFZG) published a monograph titled The Political Economy of Digital Monopolies: Contradictions and alternatives to data commodification. Through seven chapters, the authors analyse the production, regulation, and financialisation of digital goods and services, primarily those offered by transnational companies such as Google, Apple, Facebook, Amazon, and Microsoft. They use contemporary interpretations of critical theory to explain their global dominance, understand their effects on society, media and communication, as well as to open the debate on the reform and alternatives to business models based on gathering and commodifying user data.
“Our world has come to be dominated by a few giant high-tech corporations whose power and impact have, rightly, drawn much comment. However, rigorous analysis of their financial and monopolistic character is scarce. In this thoughtful book the authors creatively apply Marxist theory to help us understand the role and significance of these digital titans.”
Peter Golding, Northumbria University
“The utopian promises made at the start of ‘the digital age’ have not come true. If you wish to understand why – and why Marx remains indispensable – read this book!”
Tony Smith, Iowa State University
“In this thoroughly researched and clearly written book, critical theory confronts the concentration of power in cyber-monopolies to advance our understanding of digital capitalism. The authors skilfully assess proposals for both reform and social transformation.”
Vincent Mosco, author of The Smart City in a Digital World