{"resolved":true,"match_type":"uuid","source_type":"original_book","book_id":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","title":"Digital Capitalism","author":null,"edition":null,"publisher":null,"year":null,"isbn":"2021022153","requested_by":"printed_page","book":{"source_type":"original_book","book_id":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","id":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","uuid":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","title":"Digital Capitalism","normalized_title":"digitalcapitalism","author":null,"edition":null,"publisher":null,"year":null,"isbn":"2021022153","isbns":["2021022153","9781032119182","9781032119205","9781003222149","2405518376"],"parsed":true,"ai_readable":true,"document_type":"book","page_count":343,"navigation_url":"https://workshop.closeclaw.top/ai/book/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","title_url":"https://workshop.closeclaw.top/ai/title/Digital%20Capitalism","fixed_page_url_template":"https://workshop.closeclaw.top/ai/book/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/page/{printed_page}","path_api_url_template":"https://workshop.closeclaw.top/api/ai/book/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/page/{printed_page}","read_url":"https://workshop.closeclaw.top/api/ai/read/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","page_url":"https://workshop.closeclaw.top/api/ai/books/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/page","search_url":"https://workshop.closeclaw.top/api/ai/books/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/search"},"page":{"printed_page":299,"pdf_page":313,"physical_index":313,"physical_index_base":0,"printed_page_status":"recognized","page_sha256":"65a971c85c6e1522529a7670d21396efacab60d2eb6a9bc4f250423ca45a0e7f"},"chapter":"DIGITAL CAPITALISM","content":"The data in tables 12.12 and 12.13 indicate that in all analysed countries, absolute productivity is significantly higher in the information/communication sector than in the arts and live entertainment sector. Also the cross-country ten-year average productivity growth rate is with 34.8% higher in the first sector than in the second, where it is 28.9%.\n\nThe production and diffusion of content (radio, television, telecommunications, software, Internet, advertisements, newspapers, and print publications) is based on specific qualities of information, especially that it can be shared, easily copied, and is not used up in consumption. In this sector, productivity tends to rise, which is reflected in the empirical results presented for the information and communication sector in table 12.8. We have found empirical indications that productivity can rise in the information and communication sector. Therefore, his argument that the labour theory of value does not apply because of a productivity paradox does not hold. In contrast, the labour theory of value works wherever capital is accumulated and so profit is made.\n\n12.4 Conclusion\n\nThis chapter has produced empirical example case data that could be interpreted as providing some indications that the information economy has peculiar characteristics that need to be taken into account when applying the labour theory of value to it. The high initial costs and the high uncertainty of popularity and possible audience rates seem to make information companies try to set off the risks involved in their form of production by selling their commodities at prices way above their output values and at prices that are significantly higher than investment costs than in the total economy, which given successful sales results in higher profit rates.\n\nHow can we interpret this phenomenon? Some observers argue that the information economy is in general based on rent and not on productive labour and profits and therefore consumes and robs the profits of other sectors (e.g. Foley 2013; Rigi 2014; Teixeira and Rotta 2012). I showed in this chapter that there are indications that productivity can be increased in the information-processing-based part of the information economy that uses computing and data transmission and is rather difficult to achieve in the live entertainment and the arts sectors. Storage growth and transmission acceleration are factors helping to increase productivity in these sectors that are themselves partly creating ICT innovations and are among the first to use them. As a result, the productivity level can be increased in this industry, which allows to produce more value per unit of labour-time in comparison to many other industries and to thereby gain surplus-profits. Table 12.14 provides empirical indications for selected countries and regions that productivity measures as monetary value per hour worked has in the information and communication (I&C) sector been growing significantly faster than in the total economy.\n\nChapter Twelve | The Information Economy\n\n299\n\nConclusion","previous_page":298,"next_page":300}