INTRODUCTION
What is technocapitalism?
Technocapitalism is an evolution of market capitalism that is rooted in
technological invention and innovation.
It can be considered an emerging era, now in its early stage,
which is supported by such intangibles as creativity and new knowledge.
Intangibles are at the core of technocapitalism. Creativity and knowledge are to
technocapitalism what tangible raw materials, factory labor and capital were to
industrial capitalism. During
industrial capitalism, tangible resources acquired the greatest value, as
factory production, repetitive labor and massive output ruled the day. In the emerging technocapitalist era,
however, those material resources are becoming secondary in importance.
Intangibles are therefore vital for technocapitalism. Creativity and knowledge are the most
valuable resources of this emerging new era.
They, for example, already account for as much as three-quarters of the
value of most products and services in existence, and that proportion is bound
to increase over time. In contrast, the
material resources that were most valuable for industrial capitalism are losing
value relative to those intangibles in most every product or service.
New economic activities are emerging that are representative of
technocapitalism. Biotechnology,
nanotechnology, bioinformatics, software design, genomics, synthetic
bioengineering, molecular computing and biorobotics, for example, are likely to
be hallmarks of the twenty-first century, as electronics and aerospace were of
the twentieth. This new ecology of
activities and sectors is more reliant on creativity and knowledge than any of
the old industries of industrial capitalism.
The organizations that are typical of these new activities are
research-intensive and highly dependent on new discoveries for their
survival. Continuous or systematized
invention and innovation are very much a part of their reality, and are vital for
survival. Unlike the factories of industrial
capitalism, where production was paramount and research was often a marginal
endeavor, the organizations and firms typical of technocapitalism are, first
and foremost, oriented toward research and discovery.
The old industries typical of
industrial capitalism are also feeling the impact of this emerging era. The sort of continuous invention and
innovation found in activities typical of technocapitalism are spreading to old
sectors, such as automobile manufacturing, apparel and the mechanical
industries. Service activities,
including some of the most mundane ones, are also being affected. It seems that no economic sector or activity
can be considered immune from the dynamics of the new order and its emphasis on
novelty.
A major question that remains to be answered is whether the new
technologies symbolic of technocapitalism will be mostly controlled by
oligopolistic corporations. The pricing
power of oligopolies may prevent those new technologies from having the impact
on human wellbeing that they would otherwise have. Oligopolies that take over the new sectors may also erect
substantial barriers to entry that prevent new and highly innovative firms from
developing. Most new firms that are
created may thus end up being taken over by powerful oligopolies in control of
their sectors, thus stifling invention and innovation along with new enterprise
creation. At the same time, the pricing
power that oligopolies typically command may place the new technologies out of
the reach of many of the people that could benefit from them.
To prevent this from happening, many of the new technologies symbolic
of technocapitalism may need to be considered a public resource. Specific laws may have to be created to
prevent oligopolies from being formed, or from taking over the new sectors and
technologies. Such laws might also make
it possible for small, innovative firms to be created, and to allow them to
survive as independent enterprises. A
lack of oligopolistic pricing power may make the new technologies symbolic of
technocapitalism more affordable, allowing them to reach the people who may
benefit most from their introduction.
The various sections of this website will provide an overview of the
phenomena that support the rise of technocapitalism. Many of those phenomena became obvious toward the end of the
twentieth century, with the decay of longstanding economic and social
structures that had previously been vital for industrial capitalism.
Two basic types of phenomena will be considered in the other sections
of this website. One typology includes
phenomena that have been mostly involved with long-term accumulation, and are
therefore macro in their scope and dynamics.
Those phenomena operate at the societal level, they are structural and
are usually beyond the control of individuals and organizations.
A second typology will consider phenomena that involve diffusion and
generation of knowledge and creativity, and usually have a micro scope. Those phenomena operate mostly at the level
of organizations and individuals. They
can therefore be affected by decisions and strategies taken by various
entities, such as firms, institutions and groups of individuals.
Some of the effects and supportive elements of both the macro and micro
phenomena will be given additional consideration. For example, the importance of continuous invention, innovative
capacity, and of networks for the activities that are typical of technocapitalism
will be considered in separate sections.
Similarly, the rising importance of a new type of organization---the
experimentalist firm---found in the sectors that are typical of
technocapitalism, will be discussed separately. For this purpose, readers will
be referred to content available in book form, separate from this website, to
expand upon the information presented here.
The intent of the components of this website is to provide an overview
of the phenomena supporting the emergence of technocapitalism, based on
currently available information.
What makes
the contents of this site different from other discussions
of technology and capitalism?
Discussions on the relationship between technology and capitalism are
as old as capitalism itself. In fact,
the terms “technology” and “capitalism” have been among the most commonly used
words in the social sciences for many decades.
What makes the contents of this site different is that they provide a
conceptual framework that is flexible and open-ended, to which discussions can
be added, debated or documented with evidence.
Technocapitalism is an unfolding phenomenon, a new era whose boundaries
and dimensions are largely unknown. At
the very least, however, we can try to understand the phenomena that point
toward a paradigm shift or that indicate change.
Second, the phenomena and developments discussed in this site can be
verified empirically, with existing quantitative data, or with qualitative
evidence. It is not enough to talk or
speculate about an emerging phenomenon.
At some point, thoughts must be grounded in evidence if they are to
carry any weight. In this regard,
therefore, the contents of this site take the reader beyond any philosophical
discussion of the emerging era, to consider concrete phenomena that can be
observed and documented.
Third, the conceptual framework is open to diverse viewpoints. Hardly anything today is, of course,
value-free. However, it is important to
understand the phenomena behind the rise of technocapitalism on their own
terms, setting aside as much as possible any biases that distort the value of
evidence.
Fourth, this site attempts to provide a big-picture---or
macro-panoramic---perspective on technocapitalism. Bringing together in a broad way the various phenomena that
support this emerging era can provide an immediate understanding of its
dimensions and challenges. This
approach can allow us to build a research platform upon which additional study,
evidence and details can be built.
Fifth, no attempt is made to predict or forecast the future under
technocapitalism. The record of
forecasting in the social sciences is a very poor one, by any standard. It is therefore best for readers to decide
and project on their own the potential consequences of the phenomena discussed
in this site. Most, if not all, of the
changes being introduced by technocapitalism have potentially profound
implications for humanity, and for the sustenance of societies, economies and
cultures.
For publications on technocapitalism and related topics by this author,
please see the Publications
section
of this website.
Copyright © Luis Suarez-Villa