Bailey, D, Coffey, D, Thornley, C and Tomlinson, PR (2022) Advertising and the consumer in the age of Big Tech: a new moment in the evolution of monopoly capitalism? Cambridge Journal of Economics. ISSN 0309-166X

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The monopoly capitalism literature has traditionally approached advertising from the vantage point of its role in sustaining the economic order. However, digitalised forms of advertising in contexts dominated by giant digital platform technology companies like Google, Facebook and Amazon are disrupting the existing order through a combination of subsidy and location effects, shored up by the capabilities of the new technology for real-time data collection on users. This poses significant challenges for theory and policy. In both respects the case is made for rehabilitating the earlier approach of Nicholas Kaldor, which emphasises both heterogeneity of advertising forms and questions of subsidy, to complement the dominant approaches of the monopoly capitalism school as exemplified by Paul Baran and Paul Sweezy on one side, and Keith Cowling on the other.

Item Type: Article
Additional Information: © The Author(s) 2022. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (https://, which permits unrestricted reuse, distribution, and reproduction in any medium, provided the original work is properly cited.
Subjects: H Social Sciences > HA Statistics
H Social Sciences > HB Economic Theory
H Social Sciences > HF Commerce
H Social Sciences > HG Finance
Divisions: Faculty of Humanities and Social Sciences > Keele Business School
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Depositing User: Symplectic
Date Deposited: 31 Jan 2023 15:56
Last Modified: 31 Jan 2023 15:56

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