Smear and Fear by Numbers Accounting, Information Technology, and Economic Control for the New Capitalism

Authors

George Mickhail, University of WollongongFollow

RIS ID

116478

Publication Details

Mickhail, G. (2017). Smear and Fear by Numbers Accounting, Information Technology, and Economic Control for the New Capitalism. IEEE Technology and Society Magazine, 36 (3), 81-87.

Abstract

The new capitalism may be described in terms of the innovation that enabled corporations to transform their demand and supply trade exchanges with their customers and suppliers through the Internet. This enabled (and better controlled) corporation's outsourcing of non-core and core activities, which naturally eliminated the need for capital resources. Furthermore, this permitted corporations to decapitalize and reduce considerably their "plant, property, and equipment" with all the associated long-term financing liabilities (long-term debt) and associated running and maintenance expenses. Innovation, outsourcing, and decapitalization represent the fundamental tenets of the new capitalism