Published online by Cambridge University Press: 07 January 2026
This chapter describes the rise of leading digital corporations as an attempt to cope with long-term economic stagnation and the surfeit of surplus capital emerging in the aftermath of the financial crisis of 2008/09. After a brief introduction to the topic of the book and its main arguments, Schumpeter’s classic theory of capitalist monopolies (Capitalism, Socialism and Democracy) is established as a central point of reference. This contextualises digital capitalism in the historical perspective of concentration of economic power and the emergence of monopolies. The chapter also briefly introduces one of the concluding arguments: in digital capitalism, we are dealing with a post-neoliberal practice in the sense of the market itself being privatised – which is unthinkable in neoliberal economic theory. The chapter concludes with a brief introduction to the following six chapters.
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