This article suggests that Facebook embodies a new logic of capitalist governance, what has been termed the ‘social logic of the derivative’. The logic of the derivative is rooted in the now dominant financial level of the capitalist economy, and is mediated by social media and the algorithmic processing of large digital data sets. This article makes three precise claims: First, that the modus operandi of Facebook mirrors the operations of derivative financial instruments. Second, that the algorithms that Facebook uses share a genealogy with those of derivative financial instruments – both are outcomes of the influence of the ‘cyber sciences’ on managerial practice in the post-war years. Third, that the future potential of Facebook lies in its ability to apply the logic of derivatives to the financial valuation of ordinary social relations, thus further extending the process of financialization of everyday life.
Facebook and Finance : on the Social Logic of the Derivative / A. Arvidsson. - In: THEORY CULTURE & SOCIETY. - ISSN 0263-2764. - 33:6(2016 Nov 06), pp. 3-23.
|Titolo:||Facebook and Finance : on the Social Logic of the Derivative|
|Parole Chiave:||cognitive capitalism; derivatives; finance; social media; value|
|Settore Scientifico Disciplinare:||Settore SPS/08 - Sociologia dei Processi Culturali e Comunicativi|
Settore SPS/09 - Sociologia dei Processi economici e del Lavoro
|Data di pubblicazione:||6-nov-2016|
|Digital Object Identifier (DOI):||http://dx.doi.org/10.1177/0263276416658104|
|Appare nelle tipologie:||01 - Articolo su periodico|