Technocratic Capitalism

The technological threat to privacy, and therefore freedom of thought itself, is bigger than just the question of whether or not the NSA is spying on you. Of course it's disturbing that the police are able to watch you as closely and perpetually as they are. But this is actually bigger than just that.

But what good are these steps to counter the much more disturbing trend whereby our personal information – rather than money – becomes the chief way in which we pay for services – and soon, perhaps, everyday objects – that we use?

No laws and tools will protect citizens who, inspired by the empowerment fairy tales of Silicon Valley, are rushing to become data entrepreneurs, always on the lookout for new, quicker, more profitable ways to monetise their own data – be it information about their shopping or copies of their genome. These citizens want tools for disclosing their data, not guarding it. Now that every piece of data, no matter how trivial, is also an asset in disguise, they just need to find the right buyer. Or the buyer might find them, offering to create a convenient service paid for by their data – which seems to be Google’s model with Gmail, its email service.

What eludes Mr Snowden – along with most of his detractors and supporters – is that we might be living through a transformation in how capitalism works, with personal data emerging as an alternative payment regime. The benefits to consumers are already obvious; the potential costs to citizens are not. As markets in personal information proliferate, so do the externalities – with democracy the main victim.