The Fusion of Financial and Digital Capital:A Hallmark of the Modern Capitalist Economy
In the contemporary capitalist economy,the rapid rise of digital technology and the digital economy has made digital capital a dominant force.Simultaneously,financial capital continues to hold sway as a cornerstone of capitalism.These two forms of capital are not isolated;instead,they are deeply intertwined and mutually re-inforcing,forming a critical aspect of the profound transformations within the modern capitalist system.This paper explores the underlying logic of the integration between financial capital and digital capital from three perspectives:first,the inherent duality of financial capital drives its convergence with emerging industrial cap-ital;second,from a production standpoint,data has become an essential operational resource for financial cap-ital;and third,from a circulation perspective,both forms of capital collaborate to extract circulation rent,transforming into virtual capital.The paper further analyzes the primary forms of this integration through three lenses:the penetration of digital capital by financial capital,the infiltration of financial capital by digital cap-ital,and the trend toward a composite integration of the two.
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