华北理工大学学报（社会科学版）

直播带货作为一种新兴的电子商务模式，是数字资本与数字技术深度融合的产物。基于马克思主义政治经济学理论框架，从多重商品、空间重组与社会关系三个维度对直播带货的经济模式进行系统性分析。在资本逻辑的主导下，直播带货呈现出与传统营销模式显著不同的特征：首先，商品化进程不断深化，万物皆可商品化；其次，物理空间的界限被数字技术消解，形成了虚实交织的新型消费空间；最后，主播、消费者与平台之间构建了独特的数字社会关系网络，重塑了传统的商品交换关系。对直播带货经济模式的政治经济学考察，有助于深化对数字时代资本运作规律的理解。

Live stream commerce, as an emerging e-commerce model, is a product of the deep integration of digital capital and digital technology. Grounded in the theoretical framework of Marxist political economy, this paper conducts a systematic analysis of the economic model of live stream commerce through three dimensions: multiple commodities, spatial restructuring, and social relations. Under the dominance of capital's logic, live stream commerce exhibits distinct characteristics that set it apart from traditional marketing models. First, the process of commodification intensifies, leading to a state where "everything can be commodified". Second, the boundaries of physical space are dissolved by digital technology, giving rise to a new consumption space that interweaves the virtual and the real. Finally, a unique digital social network is constructed among streamers, consumers, and the platform, thereby reshaping traditional commodity-exchange relationships. A political economic examination of the live stream commerce model contributes to a deeper understanding of the operational logic of capital in the digital age.