Georg Lukács as a Communications Scholar: Cultural and Digital Labour in the Context of Lukács’ Ontology of Social Being

The task of this work is to apply thoughts from Georg Lukács’ final book, the Ontology of Social Being, for the theoretical analysis of cultural and digital labour. It discusses Lukács’ concepts of work and communication and relates them to the analysis of cultural and digital work. It also analyses his conception of the relation of labour and ideology and points out how we can make use of it for critically understanding social media ideologies. Lukács opposes the dualist separation of the realms of work and ideas. He introduces in this context the notion of teleological positing that allows us to better understand cultural and digital labour as well as associated ideologies, such as the engaging/connecting/sharing-ideology, today. The analysis shows that Lukács’ Ontology is in the age of Facebook, YouTube, and Twitter still a very relevant book, although it has thus far not received the attention that it deserves. This article also introduces the Ontology’s main ideas on work and culture, which is important because large parts of the book have not been translated from the German original into English. Lukács’ notion of teleological positing is crucial for understanding the common features of the economy and culture.

Impact of the financial crisis on cross-border mergers and acquisitions and concentration in the global banking industry

The global banking industry has seen dramatic changes in the past 40 years. Most recently, the financial liberalization of emerging markets and the global financial crisis have significantly impacted the market share of banks worldwide. This article investigates the impact of the 2007–2008 financial crisis on cross-border mergers and acquisitions (M&As) in the banking sector and emphasizes the role of emerging-market banks in the postcrisis consolidation trend. Using M&A data and concentration data over the period 2000–2013, our analysis indicates that the financial crisis had a significant impact on worldwide M&As, especially on the direction of the transactions. Emerging-market banks appear to be major acquirers in the postcrisis period, targeting both neighboring countries and developed economies in Europe. We also observe an increase in bank concentration in developed markets most hit by the financial crisis, especially in the United States and the United Kingdom, whereas bank concentration decreased in emerging markets.