Cambridge Journal of Economics · 2019 · 88 citations · 28 references
Public AffairsEconomicsRegulatory PolicyEconomic DevelopmentInstitutional TheoryRegulatory EconomicsEmbeddednessPlatform CompetitionPlatform PoliticsPlatform RegulationPlatform StudiesDigital Platform EconomicsDigital Platform Regulation
The platform economy, exemplified by digital services such as Uber, is reshaping capitalism and prompting questions about its nature, long‑term growth prospects, and the regulatory challenges it creates. The study examines whether the platform economy constitutes a new embeddedness process, a post‑crisis deregulation phase, or a distinct growth regime. The authors employ the French Régulation school framework to analyze how platform competition transforms institutional forms. The analysis reveals that while platform dynamics may support limited re‑embeddedness, they ultimately accelerate trends of the financialised RA and emerge as an endogenous response to its crisis.
Abstract The terms ‘platform economy’ or ‘sharing economy’ have become widespread with the development of digital platforms like Uber. This economy is transforming capitalism and raising important questions about its nature. Is it a new process of embeddedness or is it the next step for deregulation following the crisis of the financialised regime of accumulation (RA)? Is it a possible new Growth Regime? Using the approach of the French Régulation school of thought, we describe the nature and transformations of the form of competition inherent in platforms. Although this may favour some forms of re-embeddedness, we show that it will accelerate some of the trends and characteristics of the institutional forms of the financialised RA and that it is an endogenous product of its crisis. This raises further questions and uncertainties related to the ability of platforms to generate stable long run growth due to the dysfunctionality of the mode of régulation and the conflicts it could generate.
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