Cryptomarkets function as self-regulating forms of governance, close to what Hayek would describe as a spontaneous order. At the same time, in cases like the online market Silk Road, they construct an identity that portrays their illegal activities as operating within a framework of individual rights and voluntary transactions. As has already been examined in the wider literature, the political and economic philosophy of libertarianism has been mobilized by participants in such markets in order to provide a moral theoretical background (...) to their activities. This article examines: (1) why libertarianism indeed provides a suitable narrative for such activities and how the theoretical work of Foucault on power and resistance (and, more specifically, his notion of ‘counter-conduct’) can help us understand the contentious relationship between the state and cryptomarkets; and (2) how libertarian practices such as the ones taking place in cryptomarkets are at odds with neoliberal governmentality. (shrink)

Andrew Sayer and Dave Elder-Vass are both advocates of ‘moral economy’. To this end, Elder-Vass offers a theory of appropriative practices that enables us to evaluate the enormous variety of forms...

This essay can be called, if you will, an exercise in choosing which words to use when in our contemporary context. I hope to add something useful to the work being done by Pierre Macherey (Machere...

Digital technologies have made access to and profit from scientific publications hotly contested issues. Debates over open access (OA), however, rarely extend from questions of distribution to questions of how OA is transforming the politics of academic knowledge production. This article argues that the movement towards OA rests on a relatively stable moral episteme that positions different actors involved in the economy of OA (authors, publishers, the general public), and most importantly, knowledge itself. The analysis disentangles the ontological and moral (...) side of these claims, showing how OA changes the meaning of knowledge from a good in the economic, to good in the moral sense. This means OA can be theorized as the moral economy of digital knowledge production. Ultimately, using Boltanski and Thévenot’s work on justification, the article reflects on how this moral economy frames the political subjectivity of actors and institutions involved in academic knowledge production. (shrink)

Reputation is often seen as central to the coordination of transactions in sharing economy platforms. Participants perform a double role regarding reputation management: while engaging in exchanges with other peers, they build their individual ‘reputation capital’ and simultaneously execute community oversight. In Couchsurfing (CS), a network often cited as paradigmatic of the sharing economy, there is, however, a clear bias for positive references. In the digital economy literature, participants’ friendly behaviour is understood as motivated by self-interest and an incentive to (...) maintain a positive reputation. Social research on reputation in CS attributes the bias to fear of retaliation, but also hints at norms of reciprocity leading travellers to require positive feedback for hospitality. This article analyses the lived experience of reputation management in CS and argues that participants seek to reconcile direct and general reciprocity. It proposes breaking these practices down into boundary-work and creative avoidance and argues these result in insufficient protection of inexperienced participants against problematic members. (shrink)

The harvesting of data about people, organizations, and things and their transformation into a form of capital is often described as a process of “accumulation by dispossession,” a pervasive loss of rights buttressed by predatory practices and legal violence. Yet this argument does not square well with the fact that enrollment into digital systems is often experienced as a much more benign process: signing up for a “free” service, responding to a “friend’s” invitation, or being encouraged to “share” content. In (...) this paper, we focus on the centrality of gifting and reciprocity to the business model and cultural imagination of digital capitalism. Relying on historical narratives and in-depth interviews with the designers and critics of digital systems, we explain the cultural genesis of these “give-to-get” relationships and analyze the socio-technical channels that structure them in practice. We suggest that the economic relation that develops as a result of a digital gift offering not only masks the structural asymmetry between giver and gifted but also permits the creation of the new commodity of personal data, obfuscates its true value, and naturalizes its private appropriation. We call this unique regime “accumulation by gift.”. (shrink)

This article examines valuation and payment practices of psychoanalysts in Buenos Aires, Argentina. Psychoanalysts do not use explicit sliding scales but rather reach an agreement about fees in conversation with the patient. This negotiation is conducted with some principles of gift-giving, where parties try to give more, rather than through competitive bargaining (an inverted bazaar). Drawing on the sociology of money, morals and markets, and valuation studies literatures, I distinguish four factors to explain this: 1) Some formally produced prices as (...) well as market mechanisms shape benchmarks for fees, but the peculiar service psychologists offer (which makes quality judgments hard), the way patients and therapists are matched, and the lack of public information about prices allow for high flexibility in price-setting; these are structural factors that remain unsaid in the conversation on fees. 2) A professional narrative that highlights a responsibility towards patients that should not be contaminated by economic interest. 3) Psychoanalysts’ elaborations on the meanings of the payment, which should reflect the uniqueness of each patient and the bond analyst-patient and symbolize the patient’s commitment to treatment, involving a cost and a loss beyond the economic. 4) The prevalence of cash, face-to-face payment without intermediaries, which helps desacralize the analyst and disentangle the session from the rest of the economic life of the analyst, but impedes evading moralization of the transaction. Payments in psychoanalysis are delicate arrangements, and analysts often stress about valuation and payments. They have to be careful to ensure this flexibility results in morally acceptable transactions. (shrink)

In this wide-ranging interview, Dave Elder-Vass discusses his main contributions to critical realist theory over two decades. In the first half, he explains his early work on emergence, agency, str...

The digital economy has provided opportunities for new forms of economic practice. At their purest, these forms deliver economic benefits as gifts and depend on cooperation without authority. Drawing loosely on Habermas, we may call this a lifeworld economy – an economy that is coordinated by communicative interaction – as opposed to the systems economy of market and state, coordinated by money and power. This formulation, however, faces both theoretical and practical challenges. On the theoretical side, the notion of a (...) lifeworld economy does not sit easily with Habermas’s own formulation of the distinction between lifeworld and systems. On the practical side, the digital lifeworld economy has been steadily colonized by capitalist businesses, which have frequently found ways to incorporate forms of gift and cooperation into profit-oriented business models. This article proposes to reformulate Habermas’s distinction as a reference to different kinds of causal mechanisms, detaching it from his functionalist framework and enabling a more flexible application to empirical cases. It then applies it to a series of iconic cases from the digital economy: Amazon, Wikipedia, and open source software, to demonstrate its continuing relevance to very current issues. (shrink)

Within thirty years of first appearing, the networked digital economy has spread its tentacles into the lives of half the population of the world, and transformed the balance of power in the commercial economy. Social theory has been slow to recognize the significance and scale of these developments, and this special issue is a contribution to redressing the balance. It is organized around the concept of moral economies: the values and norms that underpin and shape our participation in larger economic (...) structures. The digital economy today is the site of a range of competing economic models, and this is reflected in clashes between a corresponding range of moral economies. The contributors to this special issue map these tensions in examples of both gift and commodity models of economy, analyse the implications for global risk, and re-evaluate classic analytic schemes to represent these tensions. Because the economy is built on moral economies, the process of economic change is already inherently a process of debate and contestation between different moral economies, with the consequence that academic work on the ethics of the economy can influence these processes of change. (shrink)

The study of digital economies and the sociology of risk have, with few exceptions, a relationship of benign mutual neglect despite possible important connections between the two. This article aims to bridge the gap between these two fields using Beck’s theory of risk society to explore how the digital economy’s momentum of innovation is generating risks and limiting the scope of existing democratic decision-making via the power of the digital economy to create social faits accomplis outside of democratic control. Three (...) specific risks emerging from the dynamics of innovation of digital economies are discussed as vignettes to illustrate these developments: (1) the remaking of interpersonal co-presence and solitary life; (2) the growing threats of AI to intensify unemployment and inequality; and (3) the impact on the environment of an ‘always on’ and ‘always upgrading’ digital communication ecosystem. With the gap between the potential and the actual use value of the digitalization of the infrastructure of life continuing to grow, this article argues that a different relationship between digital innovation and private and public spheres needs to be established to protect the effectiveness of contemporary democracy. (shrink)

In Culture and Agency, I distinguished between the ‘Cultural System', namely all items logged into the universal cultural archive, and ‘Socio-Cultural' interaction, na...

Since the 2008 financial crisis, the attempts to use Karl Polanyi's framework to make sense of current developments have multiplied, producing a noticeable and lively debate. This debate centres on the notion of double movement put forward by the Hungarian thinker in his masterpiece – The Great Transformation. The paper is a contribution to this debate. The first part addresses a series of questions that make the interpretations of the double movement advanced so far not very compelling. To this end, (...) a close reading of Polanyi's text, with the aim of dismantling and rearticulating its analytical structure, is carried out. The upshot is a dynamic and multistage picture of the double process as a recurrent and vortex-like attempt to progressively commodify natural and social resources against growing opposition. The second part employs this revised reading of the double movement to explain the collapse of the postwar consensus politics, the success of the neoliberal counterrevolution and the development of the knowledge economy. The claim put forward here is that, in addition to sustained efforts to deepen previous forms of commodification (land, labour and money), we are witnessing a fullblown attempt to turn knowledge into a new fictitious commodity. Building on the idea of digital Taylorism, the paper tries to show that information and computer technologies are being used to standardise and routinise a growing number of intellectual, professional and managerial activities which were able to escape previous attempts in this direction. Once again, at the forefront of this process there are powerful state actors, who are using New Public Management policies strategically to: support the enclosure of intangible cultural resources through the creation of intellectual property rights regimes, and undermine the counter-reaction of negatively affected societal actors by rising the collective action problems they face. (shrink)