Capitalism and technology, working for each other, like the two-headed monster Janus and also like a transnational condominium, have both created various machines that enslave us all by transforming human life on earth. What follows is a brief historical sketch of how capital and technology brought this about. Beginning in the mid-1970s through the early 1980s in the West, the capitalistic process assigned value to information (and knowledge): that is, capital valued information as a form of labor and merchandise. Briefly, within the capitalistic process, what is valued is what can be exchanged: that is, a form of merchandise is what has exchange-value. Once this process began to value words and ideas, as distinct from material goods, the new time of capital, armed with the new labor-power of (information), began to free itself from the time of concrete labor. As a result, capitalism became less concerned with organizing space into functional sectors than with subsuming the totality of time under its own laws of unequal exchange.

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BIODUN IGINLA is a political news media analyst for major news media organizations (such as BBCNews.com, The Economist.co, and France24.com). He is the author of 50 books of fiction and nonfiction books. He divides his time among Minneapolis, New York, and London.