Data Capital: How Data is Reinventing Capital for Globalization


Tang C. 2/1/2021. Data Capital: How Data is Reinventing Capital for Globalization. 1st ed., Pp. 391. Cham, Switzerland: Springer International Publishing AG (Signed the Contract in 2016). Publisher's Version


This book defines and develops the concept of data capital. Using an interdisciplinary perspective, this book focuses on the key features of the data economy, systematically presenting the economic aspects of data science. The book (1) introduces an alternative interpretation on economists’ observation of which capital has changed radically since the twentieth century; (2) elaborates on the composition of data capital and it as a factor of production; (3) describes morphological changes in data capital that influence its accumulation and circulation; (4) explains the rise of data capital as an underappreciated cause of phenomena from data sovereign, economic inequality, to stagnating productivity; (5) discusses hopes and challenges for industrial circles, the government and academia when an intangible wealth brought by data (and information or knowledge as well); (6) proposes the development of criteria for measuring regulating data capital in the twenty-first century for regulatory purposes by looking at the prospects for data capital and possible impact on future society.

Providing the first a thorough introduction to the theory of data as capital, this book will be useful for those studying economics, data science, and business, as well as those in the financial industry who own, control, or wish to work with data resources. 

Da ta Cap ital, n.
1. A human-created resource that is naturally one capital. 2. A digital, intangible capital form that claims to cover almost the digital part of all existing capital, from tangibles’ digital twin and intangibles’ measurable aspect, to financials. 3. The strategic economic resources for the data economy. 4. A parasitic economic logic to develop new forms of business that serve the industries within the first three categories of Fisher-Clark’s classification. 5. An intangible wealth marked by concentrations of information, knowledge, and wisdom unprecedented in human history. 6. A possible sovereign power that is subordinated to modern global architecture but has no physical boundaries. 7. The origin of a decentralized instrumentation power that asserts dominance over society and brings the opportunities for market democracy.
Last updated on 02/28/2021