Social Media and Capitalism

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Technology is one of the central elements of contemporary human life. The world as one knows it today is a space increasingly mediated by technological interventions, be it in the field of contemporary cultural expressions or political, organizational forms. Social media has played an important role in this transformation. Gone are the days when social media was merely a conduit for conversations. Today, it is a diverse field of operations spanning advertising mechanisms, branding processes and even direct commercial exchanges between users: the prime focus of this particular book. Direct user-to-user trading through social media within an institutional form is a relatively new dimension in the dynamic world of social media. Yet, just like every other form of innovation within the paradigm of market relations, social media commerce or social media trading has also created newer and diverse alterations in how individuals interact with the existing socio-political fabric within which they exist. This book analyses these alterations and critically investigates the role of Capital in creating them. The book analyses real-world interactions, interviews and observations through the theoretical framework provided by Marxist political economy and social theory. It draws upon the theoretical scope provided by Marx's dialectical methods of social analysis and uses it to unearth the effects that trading and commercial activities performed through virtual communities have on society and individuals.