Technology and Economic Imperialism

The connection between technology and the finance industry.

WORDVIRUS

Welcome to the Machine
by ROB URIE

The oft called ‘knowledge’ economy brought into being in the ‘developed’ West in the 1990s is composed of several industries that are broadly related but also quite specific unto themselves– artificial intelligence, telecommunications, finance, information technology and digital commerce- the Internet. More broadly, these can be divided into ‘finance’— Wall Street, insurance and real estate; and ‘technology,’ modes and methods of operational interaction with the world. One branch of these technologies in particular, the algorithmic ‘intelligent’ technology of computing tied together through global telecommunications infrastructure, is widely considered by Western economists to be a second ‘industrial age,’ a group of innovations that revolutionized the way the world ‘works.’ The development and growth of these industries was coincident with the revival of the political economy of neo-liberalism and the return of finance capitalism in its most intrusive and destructive…

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