The Rise of Big Tech Is Generating Economic Stagnation

Silicon Valley hype presented the digital economy as a source of dynamic growth as well as a liberating force for workers. In reality, digital technology is facilitating brutal forms of exploitation while productivity and growth are slowing down.

Google Launches New Products At "Made By Google" Event

Google headquarters in Mountain View, California. (Justin Sullivan / Getty Images)


If the “new spirit of capitalism” analyzed by Luc Boltanski and Ève Chiapello had to be embodied in any one location, an obvious candidate would be the bright, modern buildings reserved for creatives at Silicon Valley’s tech giants. Google’s HQ sells us the dream with its yoga sessions, free restaurants, and twenty-four-hour gyms. It showcases the innocent and open world that the company aims to bring to fruition.

This type of workspace is a masterly illustration of the reorganization of subjectivities initiated by the “neoliberal epithumogenesis” identified by Frédéric Lordon:

The desire to find employment should no longer be merely a mediated desire for the goods that wages circuitously permit buying, but an intrinsic desire for the activity for its own sake . . . desires for happy labor, or, to borrow directly from its own vocabulary, desires for “fulfilment” and “self-realization” in and through work.

This article is for subscribers only. Please login or subscribe to access our full archives and beautiful print and digital magazine starting at just $3 a month.