M. Chairil Akbar Setiawan


The development of the Digital Economy in the last decade has become increasingly prominent and significant. The dynamics and transactions of the Digital Economy span from the corporate to household levels, from local to global scales. The use of advanced information technology in the internet field paved the way for the Digital Economy, especially in the financial or financial realm. This reality is directly correlated with the current of financialization of contemporary capitalism which has strengthened as one of the main features of Neoliberal capitalism since the 1980s.

This study seeks to analyze the operation of the Digital Economy in the financial sector such as Venture Capital or Financial Technology within the framework of Political-Economy, particularly through the study of International Political Economy. The author believes that the birth and development of the Digital Economy can be understood in two aspects, namely, first, it is directly correlated with the financialization of global capitalism, especially since the current of Neoliberalism emerged in the decade of the 80s. Financial liberalization and deregulation that started in the United States became the starting point for international economic financialization. Changes to the model of transactions and financial products are a direct derivation of financial deregulation initiated by developed countries and global capitalists.

Second, technological development is a reflection of the historical development of capitalism. This means that technology in the Digital Economy has a social character and aims to optimize the accumulation of contemporary capitalism. Digital Economy Technology is not independent of social and economic-political formations or entirely as a result of the inherent creativity of the natural impetus of scientific progress.


Digital Economy, Capitalism, Financialization, Deregulation, Neoliberalism

Full Text:



Balaam, David N., and Dilman, Bradford, Introduction To International Political Economy,2018, Routledge, New York

Bellamy Foster, John, Magdoff, Fred, the Great Financial Crisis : Causes and Consequences, Monthly Review Press, 2009,New York.

Brenner, Robert, Economic of Global Turbulence, 1998, Verso, New York

Brewer, Anthony, Marxist Theories of Imperialism,, Routledge, 1990, London

Cassidy, John, Dot Con : The Greatest Story Ever Sold,2002,Harper Publisher, New York

Cohn, Theodor, Global Political Economy : Theory and Practices,2016, Routledge, New York

Dowd, Douglas, Capitalism and its economics, a Critical History,Pluto Press, 2004, Michigan

Dumenil, Gerard, and Levy, Dominique, the Crisis of Neoliberalism, Oxford University Press, 2011,London

Dumenil, Gerard, Levy, Dominique, The Capital Resurgent : The Roots Of Neoliberal Revolution, Harvard University Press,2004,London

Eichengreen, Barry, Globalizing Capital : A History of International Monetary System,2008, Princeton University, Boston

Epstein, Gerald A.,Introduction (Ed) Financialization and the World Economy,2004,Edward Elgar Publishing, Massachussets.

Frieden, Jefrey,Global Capitalism ; Its Fall and Rise In 21 century,W.W.Noton and Company,2006, New York

Gindin Sam, Panitch, Leo, The Making Of Global Capitalism ; the Political Economy of American Empire,Verso, 2012

Harvey, David, A Brief History of Neoliberalism, Oxford University Press, 2007, Cambridge,

Harvey, David, Enigma Of Capital,, Oxford University Press,2010, New York, USA

Henwood, Doug, Wall Street : How It Works And For Whom, Verso Books, 1998, New York.

Konings, Martijn, The Great Crash, Verso,2010, London

Konings, Martijn, Panitch, Leo, American Empire and the Political Economy of Global Finance, Palgrave Macmilan, New York, 2008.

Marx, Karl, Capital : A Critique Of Political Economy, Penguin Books,1992, New York

Mazzucato, Maria, The Entrepreneurial State,2013, Anthem Press, London

Mcnally, David, Global Slump : the Economics and Politics of Crisis and Resistance, PM Press, 2011,Canada

R. Bogdan and SJ Tylor (eds), Introduction to Qualiative Research Methods,New York, Wiley, 1975.

Palley, Thomas I, Financialization : The Economics Of Finance Capital Domination,2013, Palgrave & Macmillan, New York.

Schiller, Dan, Digital Capitalism : Networking Global Market System,1999,MIT Press, Boston, Massachussets

Schiller, Dan, Digital Depression : Information Technology and Economic Crisis, University of Illinois Press, Chicago.

Toussaint, Eric, Your Money or Your Life : The Tyranny of Global Finance. Pluto Press, 1999,London

DOI: https://doi.org/10.52447/polinter.v7i1.4583


  • There are currently no refbacks.

Email : jurnalpolinter@gmail.com

Lt. 5, Universitas 17 Agustus 1945 Jakarta,Jl. Sunter Permai Raya, Sunter Agung Podomoro, Jakarta 14350

Creative Commons License
Journal Polinter is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Copyright Pusat Penelitian Fakultas Ilmu Sosial dan Ilmu PolitikĀ Universitas 17 Agustus 1945 Jakarta

View My Statcounter