Capitalism, Power and Innovation: Intellectual Monopoly Capitalism Uncovered

The most powerful corporations in contemporary global capitalism are innovation or intellectual monopolies, which concentrate income, property, and power in the US, China, and a handful of intellectual monopolies. This book explores how these monopolies develop and transform knowledge into intangible assets, combining undermining the commons through privatization with harvesting from the same commons. It argues that desired changes require democratic mobilization of workers and citizens to tilt the scale against intellectual monopoly capitalism and calls for public rather than private ownership of global infrastructures.

Format: Paperback / softback
Length: 296 pages
Publication date: 26 September 2022
Publisher: Taylor & Francis Ltd

In the realm of contemporary global capitalism, a remarkable phenomenon has emerged: the ascendancy of powerful corporations that have become synonymous with innovation or intellectual monopolies. These corporations hold a profound influence over the world, exerting their power through the control and ownership of knowledge and data. This unique perspective delves into the intricate dynamics of private ownership and control, revealing how it has become a major source of rent and power.

At one pole, these corporations have consolidated income, property, and power in the United States, China, and a select few intellectual monopolies, particularly in the digital and pharmaceutical industries. Meanwhile, developing countries find themselves further behind, struggling to catch up in the race for economic prosperity. The book offers a comprehensive empirical mapping of how intellectual monopolies emerge and transform knowledge, originating from universities and open-source collaborations, into intangible assets. This strategy involves a combination of undermining the commons through privatization and harvesting from the same commons, creating a complex web of power and influence.

As the book concludes, it raises thought-provoking reflections aimed at tilting the scale against intellectual monopoly capitalism. It argues that achieving desired changes requires the democratic mobilization of workers and citizens at large. This book stands as a pioneering effort, one of the first attempts to grasp the contours of a new era where outdated perspectives hinder our understanding and the traditional policy toolbox proves inadequate. It challenges the notion that the sole means of promoting innovation is to transform knowledge into private property and emphasizes the need for public ownership in the formation of global infrastructures that can lead to natural monopolies.

This book will appeal to scholars and professionals from a wide range of social sciences and humanities disciplines, including economics, sociology, political science, geography, educational science, and science and technology studies. Its comprehensive and all-encompassing approach provides valuable insights into the complex dynamics of contemporary capitalism and the urgent need for transformative policies to address the challenges of our time.

Weight: 488g
Dimension: 155 x 234 x 22 (mm)
ISBN-13: 9780367750299