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The Information Economy and the Labor Theory of Value

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  • Christian Fuchs

Abstract

This article discusses aspects of the labor theory of value in the context of the information industries. First, taking the Temporal Single-System Interpretation (TSSI) of Marx’s labor theory of value as methodology, the article calculates economic demographics at the level of socially necessary labor time and prices of an example case. Second, the article questions the assumption that the labor theory of value cannot be applied to the information industries. This article tests this hypothesis with an analysis of the development of labor productivity in six countries. The article concludes that the labor theory of value is an important tool for understanding the information economy and the peculiarities of the information commodity.

Suggested Citation

  • Christian Fuchs, 2017. "The Information Economy and the Labor Theory of Value," International Journal of Political Economy, Taylor & Francis Journals, vol. 46(1), pages 65-89, January.
    • Handle: RePEc:mes:ijpoec:v:46:y:2017:i:1:p:65-89
    DOI: 10.1080/08911916.2017.1310475
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    References listed on IDEAS

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    1. Kliman, Andrew & Freeman, Alan & Potts, Nick & Gusev, Alexey & Cooney, Brendan, 2013. "The Unmaking of Marx’s Capital: Heinrich’s Attempt to Eliminate Marx’s Crisis Theory," MPRA Paper 48535, University Library of Munich, Germany, revised 22 Jul 2013.
    2. Freeman, Alan, 1998. "Time, the value of money and the quantification of value," MPRA Paper 2217, University Library of Munich, Germany.
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    Cited by:

    1. Rotta, Tomás N. & Teixeira, Rodrigo A., 2018. "The commodification of knowledge and information," Greenwich Papers in Political Economy 19448, University of Greenwich, Greenwich Political Economy Research Centre.
    2. Cihad Ozsoz & Cem Koray Olgun & Ä°sa Demir, 2023. "Confronting the First-Level Digital Divide in the Digital Age: A Comparison Between Public and Private University Students in Turkiye," Journal of Economy Culture and Society, Istanbul University, Faculty of Economics, vol. 67(67), pages 135-153, June.

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