平台经济金融化的政治经济学分析

A Political-Economy Analysis of the Financialization of the Platform Economy

以风险资本为代表的金融资本在平台经济的发展过程中扮演了重要角色。本文将这一现象称为平台经济的金融化,并对其历史背景、积累逻辑和内在矛盾进行了政治经济学分析。本文认为,新技术的发展、后危机时代资本与劳动力的双重过剩,以及风险资本制度的成熟与扩散构成了平台经济金融化的历史背景。在金融资本的推动下,平台企业为提升金融估值而过度扩张,形成估值驱动型积累模式。金融化使平台经济偏离了正常的发展轨道,加深了金融资本投机逻辑与实体经济健康发展之间的矛盾,深刻反映出当代资本主义生产关系对生产力发展的阻碍。

Financial capital, represented by venture capital, has played a crucial role in the development of the platform economy, which this paper calls "the financialization of the platform economy". This paper provides a political-economy analysis of its historical backgrounds, logics of accumulation, and internal contradictions. This paper argues that the development of new technologies, the double surplus of capital and labor in the post-crisis era, and the maturity and diffusion of the venture capital system constitute the historical background of the financialization of the platform economy. Due to the push of financial capital, a valuation driven mode of accumulation has emerged in the platform economy, which means that platforms expand maniacally in order to increase financial valuation. Financialization has made the platform economy deviate from the normal trajectory of development, deepening the contradiction between the speculative logic of financial capital and the healthy development of the real economy, which has deeply revealed that contemporary capitalist relations of production have become barriers to the development of productive forces.