The Digital Economy

This book examines the digital economy through the lens of Marxist political economy, providing a valuable analysis of the transformative changes and interconnections between production, distribution, exchange and consumption of the digital economy.

Building on China’s remarkable digital economic growth – which reached 4.73 trillion US dollars in 2018 and exceeded 30% of GDP in 2019 – this book examines China and world’s digital economy through five interrelated dimensions. It begins by exploring the role of AI in economic growth, including its mechanisms, implications and heterogeneous impacts. The book then studies new labour processes and their impact on value creation and distribution, focusing on emerging phenomena such as “de-labour rationalisation.” It also analyses the globalisation of platform economies and digital taxation, followed by an examination of digital factors of production and income distribution. The final dimension covers emerging and interactive patterns of digital production and consumption, highlighting phenomena such as the rise of internet celebrities and live-streaming e-commerce.

This book will be essential reading for researchers, students and policymakers interested in digital economics, Marxist political economy and technological and economic development in China and the world.