Technocapitalism is a term used by some to describe the changes in capitalism brought about by the emergence of the high technology sector of the economy.
Prof. Luis Suarez-Villa, in his book Invention and Rise of Technocapitalism (published in October 2000) argues that it is a form of capitalism in which intangibles such as creativity and knowledge play the parts that raw materials, factory labor and capital played in industrial capitalism. His book argues that these sectors will become the fundamental engines of economic activity in the 21st century the way internal combustion, mass production and other forms of industrial capitalism were to the 20th century.
Dinesh D'Souza, writing about Silicon Valley, uses the term to describe the corporate environment and venture capital relationships of the high tech economy.
Technocapitalism is a contraction of "technology" and "capitalism," two of the most commonly used words in the social sciences. The term was also used by philosopher Douglas Kellner in an examination of trends in production from the perspective of the Frankfurt School, to describe the use of technology and its social relationships.
Last updated: 05-13-2005 07:56:04