If Minsky were alive rn, he'd be writing about "platform manager capitalism", rooted in control of informational space, permanent monitoring of users & rivals, & the use of tech to add infinite tertiary layers to the system, tying shadow banking to mass surveillance. Send tweet.
Do people not realize that if we trust Silicon Valley's promises regarding the stability of their financial products, we're FORCING them to increase mass surveillance. Because their stability claims depend on mass surveillance!!!
And now I'm thinking about what this means for labor and this law review article by @sanjuktampaul & @NathanTankus and I need a drink. https://ir.stthomas.edu/ustlj/vol16/iss1/4/
The Firm Exemption and the Hierarchy of Finance in the Gig Economy

By Sanjukta Paul and Nathan Tankus, Published on 02/12/20

https://ir.stthomas.edu/ustlj/vol16/iss1/4/
Like forms before them, Big Tech's new forms of capital will add little to useful production. Large "non-financial firms" will "tech up", shift even further to gig labor, & necessarily spy more to protect their financial privileges. Bc the data banks want data. Not just money.
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