Platform Capitalism and the Reorganization of Labor: Algorithmic Management and Market Concentration
DOI:
https://doi.org/10.54518/ibr.1.1.2023.1177Keywords:
Algorithmic Management, Digital Platform Economy, Economic Transformation, Gig Economy, Platform GovernanceAbstract
The rapid expansion of digital platform economies has transformed contemporary economic systems by reshaping labor participation, market coordination, and digitally mediated economic activities. Platform-based systems such as gig economy applications, online labor platforms, and digital marketplaces increasingly function as central infrastructures within modern digital economies. The findings indicate that platform economies contribute positively to economic transformation by increasing market accessibility, labor flexibility, digital connectivity, and participation within online economic ecosystems. However, the review also reveals significant governance and socio-economic challenges associated with platform-based systems, including labor precarity, algorithmic management, platform dependency, market concentration, and unequal economic participation. In addition, governance systems frequently struggle to adapt to rapidly evolving digital platform environments characterized by cross-border operations and data-driven coordination mechanisms. The study concludes that sustainable platform economies require adaptive governance frameworks capable of balancing technological innovation, labor protection, market fairness, and inclusive economic participation within digitally mediated economic systems.
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