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At Savage Minds, Adam Fish and John Carter McKnight have an extended essay arguing--convincingly, I think--that the elaboration of online life and social networking is extending capitalism to altogether new areas of private life.

As kids growing up in Nancy Reagan’s “just say no” 80s we endured a lot of propaganda regarding drugs. One was the myth of the “gateway drug.” We were told that drugs like marijuana with few medically provable harms were highly dangerous because they were gateways to harder more evil drugs. Gateway drugs are like linkbait, hooks that bring unwitting subjects from a one innocuous practice to one more pernicious.

Morozov claims that social media is a gateway drug for the financial sector to hook us on a new range of products and services, while increasing its control over our lives. We hear that the dark insides of our mouths, fridges, rubbish bins, and cars will be scrutinized by networked and image-recognizing surveillance cameras. Videos will be algorithmically analyzed producing “data portfolios” which will be automatically used (for a fee) by third parties to adjudicate our credit worthiness, employability, and romantic fitness. As longtime admirers of Morozov’s guts and wit we’ve been pleased to see him begin (finally) to use the name and identify the problem head-on—neoliberal capitalism galvanized by ubiquitously networked humans.

In making this argument, Morozov brings together two academic terms and says that they are co-constituting: mediatization and financialization. Mediatization claims that social practices are increasingly linked to media performance. We do it for the camera. Presidential elections, of course, are a key example of mediatization, in which every utterance, campaign stop, handshake, and tweet is delicately engineered towards manipulating the 24-hour news cycle. Mediatization assumes a new level of embeddedness in encounters with persistent, searchable, archivable, user-generated social media, a process we call social mediatization. The “social” qualifies the “mediatization” by identifying a new phase in which information is not broadcast from corporations or politicians to a passive audience, but generated and shared constantly among people, businesses, and governments.

Financialization works much like social mediatization: both identify the ways that foreign logics (financial or mediated) find their way into once-private and domestic spheres. Classic examples of financialization include online banking at home, stock investing as a hobby, and other forms of money management which were once “work” but are now billed as necessary and mature forms of personal responsibility and risk management for the middle classes.


Basically, late capitalism. The authors end their article by sharing Evgeny Morozov's vision of an "all too likely future of trying to level up our gamified toothbrushes to lower our dental insurance premiums."
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