Space, Time and Biopolitics: Three Reconstructions of Value Forms——Interpreting Value Forms under Digital Capitalism from the Perspective of Capital
An analysis of the theory of value of labour under contemporary digital capitalist society needs to go back to Marx's Capital to examine in detail the changes that have taken place in the forms of value of labour in capitalism, from industrial capitalism, to financial capitalism, and then to today's digital capitalism. The surplus value formed in industrial labor not only changes into the form of industrial profits, but also needs to be further restructured and distributed with profits in areas such as commercial profits, land rent, interest, logis-tics, and warehousing in terms of spatial form, which is the first restructuring of value forms, namely spatial restructuring. At the stage of financial capitalism, the virtual capital that is born is in fact involved in the dis-tribution of future-oriented surplus value, which is the second reconstruction of the form of value, namely the temporal reconstruction. Under digital capitalism and its platforms, neo-liberal economics has transformed the variable capital of labour into "human capital", that is, the political economy of Marxism into the politics of life in the Foucaultian sense, thus changing the form of value of labour once again, and transforming the part of variable capital into the intention of the digital platforms to loot and harvest, which is a third reconstruction of the form of value, namely the reconstruction of biopolitics.
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