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Karl Marx and the Blockchain

Media, Technology and Education in a Post-Truth Society

ISBN: 978-1-80043-907-8, eISBN: 978-1-80043-906-1

Publication date: 8 July 2021

Abstract

Blockchain is often presented as a technological development; however, clearly it is not only that: the ‘Blockchain buzz’ exists in the context of current social and political developments. In this essay, we analyse blockchain technology and its social and political context from a perspective of Marxist economic theory. Since arguably the last great inflection point in society and technology was analysed by Marx in terms of labour and capital and since we seem to be experiencing a shift in the balance between these forces today, it makes sense to revisit the Marxist ideas and apply them to the current situation, to see how well they still apply and if necessary to update them for current events.

Keywords

Citation

Basu, D. and Gabbay, M. (2021), "Karl Marx and the Blockchain", Grech, A. (Ed.) Media, Technology and Education in a Post-Truth Society (Digital Activism and Society: Politics, Economy And Culture In Network Communication), Emerald Publishing Limited, Bingley, pp. 225-241. https://doi.org/10.1108/978-1-80043-906-120211016

Publisher

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Emerald Publishing Limited

Copyright © 2021 by Emerald Publishing Limited