Monopoly Capital in the time of digital platforms: a radical approach to the Amazon case

Abstract

Abstract The paper applies the radical view of Monopoly Capitalism to the digital platform economy. Based on the seminal ideas of Hymer and Zeitlin that led Cowling and Sugden to define the large monopolistic firm as a means to plan production from a single strategic decision-making centre, we attempt to develop a framework where digital platforms are conceived as an evolution of large transnational corporations. Power and control, in our view of monopoly capitalism, are thus to be understood not only in terms of market relations, but rather as levers for coordinating global production and influencing world societies. Applying this framework to the Amazon case, we highlight the key analytical dimensions to be considered: not only does Amazon dominate other firms and suppliers through its diversification and direct control of data and technology; its power is also linked to global labour fragmentation and uneven bargaining power vis-à-vis the world’s governments, as in the tradition set by Hymer and Cowling.