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The new articulation of wages, rent and profit in cognitive capitalism

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  • Carlo Vercellone

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

In the transition toward a cognitive capitalism, the transformations of the social organisation of production are strictly connected to those of income distribution. This evolution is deeply characterised by the re-emerging of the rent under different forms. The aim of this article is to provide a marxist interpretation of these mutations and their social and economic implications. The analysis is organised in two sections. In the first section we are going to examine the definitions of the categories of wages, rent and profit, and claim that the lines separating rent from profit are flexible and mobile both theoretically and historically. To illustrate this point we rely on suggestions found in Marx's Capital volume III, where he drafts a theory of the becoming-rent of capital that provides new insights into the related theory of the general intellect. In the second section, we will provide a synthetic framework for the interpretation of transformations of the labour-capital relation that led simultaneously to an increase in the power of rent and the collapse of a distinction between rent and profit in the transition from industrial to cognitive capitalism.

Suggested Citation

  • Carlo Vercellone, 2008. "The new articulation of wages, rent and profit in cognitive capitalism," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00265584, HAL.
    • Handle: RePEc:hal:cesptp:halshs-00265584
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00265584
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    Citations

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    Cited by:

    1. Claude Serfati, 2008. "Financial dimensions of transnational corporations, global value chain and technological innovation," Journal of Innovation Economics, De Boeck Université, vol. 0(2), pages 35-61.
    2. Jean-Marie Monnier & Carlo Vercellone, 2017. "Basic income as primary income [Le revenu de base comme revenu primaire]," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01486202, HAL.
    3. Emrah Karakilic, 2022. "Rentierism and the commons: A critical contribution to Brett Christophers’ Rentier Capitalism," Environment and Planning A, , vol. 54(2), pages 422-429, March.
    4. Monnier Jean-Marie & Vercellone Carlo, 2014. "The Foundations and Funding of Basic Income as Primary Income," Basic Income Studies, De Gruyter, vol. 9(1-2), pages 59-77, December.
    5. Jean-Marie Monnier & Carlo Vercellone, 2017. "Basic income as primary income [Le revenu de base comme revenu primaire]," Post-Print hal-01486202, HAL.
    6. Rodrigo Alves Teixeira & Tomas Nielsen Rotta, 2011. "Modern Rent-Bearing Capital: New Enclosures, Knowledge-Rent and the Reproduction of Valueless Commodities," Anais do XXXVII Encontro Nacional de Economia [Proceedings of the 37th Brazilian Economics Meeting] 008, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    7. Ju Li, 2021. "Open Sesame? The Paradoxical Development of C2C E-commerce in China," Review of Radical Political Economics, Union for Radical Political Economics, vol. 53(2), pages 266-280, June.
    8. Marson Korbi & Andrea Migotto, 2019. "Between Rationalization and Political Project: The Existenzminimum from Klein and Teige to Today," Urban Planning, Cogitatio Press, vol. 4(3), pages 299-314.
    9. Ben Fine, Heesang Jeon, Gong H. Gimm, 2019. "Value is as Value Does: Twixt Knowledge and the World Economy," Fiscaoeconomia, Tubitak Ulakbim JournalPark (Dergipark), issue s1.
    10. Spence, Crawford & Carter, David, 2011. "Accounting for the General Intellect: Immaterial labour and the social factory," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 22(3), pages 304-315.
    11. Alfredo Macias Vazquez & Pablo Alonso Gonzalez, 2016. "Knowledge Economy and the Commons," Review of Radical Political Economics, Union for Radical Political Economics, vol. 48(1), pages 140-157, March.
    12. Macías Vázquez, Alfredo & Alonso González, Pablo, 2015. "Collective symbolic capital and sustainability: Governing fishing communities in a knowledge economy," Marine Policy, Elsevier, vol. 53(C), pages 21-26.

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