100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Summary article by Ritzer, 2010: Production, Consumption, Prosumption: The nature of capitalism in the age of the digital ‘prosumer' £7.49   Add to cart

Summary

Summary article by Ritzer, 2010: Production, Consumption, Prosumption: The nature of capitalism in the age of the digital ‘prosumer'

 9 views  0 purchase

This document contains a summary of the paper "Production, Consumption, Prosumption: The Nature of Capitalism in the Age of the Digital 'Prosumer,'” by Ritzer 2010, which discusses the changing nature of capitalism in the digital age. The paper examines the emergence of a new type of consumer, th...

[Show more]

Preview 1 out of 2  pages

  • January 5, 2023
  • 2
  • 2022/2023
  • Summary
All documents for this subject (1)
avatar-seller
letydrago
Production, Consumption, Prosumption: The Nature of Capitalism in the Age of the Digital
"Prosumer" – Ritzer, 2010

In the paper "Production, Consumption, Prosumption: The Nature of Capitalism in the Age of the
Digital "Prosumer" discusses the changing nature of capitalism in the digital age. It argues that the
rise of the internet and other digital technologies has led to the emergence of a new type of
consumer, the "prosumer," who is actively involved in the production, as well as the consumption, of
goods and services.

The paper explains that in the past, capitalism was based on a clear division between producers and
consumers, with producers creating goods and services and consumers purchasing and using them.
However, the rise of the digital economy has led to the blurring of this division, with consumers
becoming more actively involved in the production process through activities such as online reviews,
product recommendations, and social media sharing.

The rise of the digital economy has had a significant impact on the nature of capitalism. The digital
economy refers to the economic activities that are facilitated by digital technologies, such as the
internet, social media, and mobile devices. These technologies have enabled the creation of new
forms of production, distribution, and consumption that were not possible before.

The author cites several examples of new forms of consumption that have emerged in the digital
economy. Here are a few of these examples:

 Subscription-based services: In the digital economy, it is increasingly common for consumers
to pay for access to a service, rather than purchasing a product outright. This is often done
through subscription-based models, in which consumers pay a regular fee to access a service
or a set of services. Examples of subscription-based services include streaming music and
video platforms, software as a service (SaaS) offerings, and online news and magazine
subscriptions.
 Microtransactions: Another new form of consumption in the digital economy is the use of
microtransactions, which are small, often automated payments for digital goods or services.
Microtransactions are often used in video games, where players can purchase in-game items
or bonuses using real money. They are also used in other industries, such as mobile apps,
where users can purchase additional features or unlock new levels using small payments.
 Crowdfunding: Crowdfunding is a new form of consumption in which consumers contribute
small amounts of money towards the development of a product or service. Crowdfunding
platforms, such as Kickstarter and Indiegogo, allow individuals and organizations to pitch
their ideas and solicit funding from a large number of backers. In return, backers receive
rewards or perks, depending on the level of their contribution.
 Collaborative consumption: Collaborative consumption refers to the sharing or renting of
goods and services among individuals, rather than purchasing them outright. This can take
many forms, such as car-sharing platforms, home-sharing platforms like Airbnb, and peer-to-
peer lending platforms. Collaborative consumption allows consumers to access goods and
services on an as-needed basis, rather than having to purchase them outright.

These examples demonstrate the diverse and innovative forms of consumption that have emerged
in the digital economy, and the ways in which technology has enabled the creation of new business
models and ways of accessing goods and services.

One of the key features of the digital economy is its global nature. The internet has enabled the
creation of a global market in which goods and services can be easily bought and sold across national

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller letydrago. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £7.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

57727 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now

Start selling
£7.49
  • (0)
  Add to cart