Liu Zhihong: Digital Capital or Digitalized Monopoly of Financial Capital Understanding the Complexity of the Dominant Form of Capitalism Today
Release time: 2025-07-04
Although the increasingly strong influence from digital capital has to some extent been guiding the operation of capital, it has not yet effectively controlled the total social capital, including financial capital. It has neither eliminated the blindness of capital nor occupied the largest share of growth, The financial capital that has been transformed into functional capital and appears in this form still enjoys a dominant power today. It is the owner of digital technology and platforms, regulating the operation of digital capital at a deeper level. Financial industry capital comes onto the stage and operates under the form of digital capital, while beneath the shell of digital capital lies the body and soul of financial industry capital. In the perspective of complexity paradigm, financial nature is the main characteristic of current capital, monopoly is its fundamental feature, and digitization offers its era form. These three together constitute the “qualitative normativity” of contemporary capital. Digital monopoly of financial capital may be a more appropriate expression for the current dominant form of capital.
Editor: Zhong Yao Deng Panyi
From: Philosophical Research.2025.No.4.