StudyCorgi Business & Economics

Political Economy of Communication

Benkler Article

Networked Information Economy. Benkler (1) emphasized that the networked information economy requires physical capital for profitable production. The networked information economy is very important to human freedom and human development. The economy of production and transfer of networked information in the community significantly affects the way people see that state of the world.

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Many generations, more than 150 years, have shown the importance of a networked information economy in any democratic society. The advent of information technology that includes investigative reporting, avant-garde video, and multiplayer online games have catapulted information exchange far beyond the snail mail, and low information exchange of yesteryears. News from any point around the world can easily be accessed through the click of the mouse on the internet. Governments, organizations, and individuals can gather significant networked information more economically by just searching through the internet, using cable television, reading newspaper news from around the world, and hearing foreign news on the radio.

In terms of exclusive Individualism, Benkler (3) emphasized individuals act for material gain, psychological well-being, and gratification, and social connectivity. The networked information economy has transformed the individual into an individual forced to adapt to the emerging decentralized or no ownership economy. Specifically, more new important cooperative and coordinative action is carried out through radically distributed nonmarket factors that are not grounded on proprietary strategies.

Adorno (1) emphasized that the culture industry represents the culture of a group of people within a community. Business establishments manufacture or sell products that incorporate the target market’s culture in the marketing process. The business organizations transfer the profit motive onto cultural concerns. For example, marketing companies hire popular actors or personalities to advertise their products. In response, the public will buy the products endorsed by their favorite personality. This is the very essence of the culture industry concept (Adorno 8).

Dean article that told about communicative capitalism

Dean (1) reiterated in his article mass media can be harnessed to produce news items on capitalism. Capitalism, as advocated by the United States, is grounded on a free market economy. Specifically, communicating capitalism includes news on the attack capitalist countries on Iraq as well as the capture and implementation of the death sentence on Saddam Hussein. The article emphasizes the author’s favoring the many benefits of capitalism. The author discusses capitalism as grounded on democracy. Pro-capitalism news is communicated through high technology that includes emails, internet website news, podcasts, blogs, media chatter, and the like (Dean 3).

Davis (1) theorized neoliberalism can also mean violation not equal with capital accommodation. Davis emphasized that the government and other individuals are driven by the market economy in their decision-making activities. This is the very essence of neoliberalism. In Dubai, outlandish projects that include the island world and the world’s tallest building, Burj Dubai were constructed to cater to the needs and wants of the residents and other prospective clients. Also, the Museum of London include dinosaurs and other animals to entertain visitors. Thus, the management incorporates the basic economic theories of supply and demand in the formulation of company plans, goals, and procedures.

Article

The General Motors Corporation1 included innovations to retain the current and prospective client’s demand for the varying models of general motors cars. The company innovatively focused on the new breed of huge corporations. General Motors was the world’s producer of the most number of motor cars from 1931 to 2008 alone. In 2008, Japan’s Toyota surpassed General Motors’ revenues. The people had changed their taste for cars.

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The people fell out of love with bulky cars that use large quantities of fuel. The people had shifted their demand to smaller Japanese cars. The Japanese cars would use up lesser amounts of fuel compared to the bigger General Motors cars. Consequently, General Motors was one of the victims of the economic depression that started to envelop the United States and many parts of the world. As a result, General Motors begged the United States government to bail them out of their financial misery in 2009. Unfortunately, President Obama disapproved of a bailout plan. This forced General Motors into bankruptcy.

The article entitled General Motors focuses on the highlights of the company.

Dyer Article

Cognitive capitalism focuses on maximizing labor and other resources to accomplish organizational goals and objectives. There is a struggle between what labor wants from management and what management wants to extract with the use of labor. The production worker prefers to end office work as early as possible. The production worker would prefer spending quality time with one’s family.

On the other hand, the management would prefer the employees to spend extra time working, over time, accomplishing organizational tasks and responsibilities. Management focuses on emphasizing the importance of profit and wage in the organization’s overall strategic management plan. Management maximizes the use of knowledge and intellectual property, and neoliberalism maximizes the production process in its aim to increase production to fill the increasing sales demands. The article states that the company’s strategic plan is grounded on marketing or economic influences.

For example, the company exists only to serve the wants, needs, and caprices of the current and prospective clients. Management uses its unique knowledge advantage to outsell the competitors in the same market segment. Management must link production to the distribution of knowledge, intellectual property, and neoliberalism value. Specifically, the article focuses on the use of mobilization, extraction, and commodification of advanced forms of collective knowledge to come up with a product that will outsell the competitors’ products and services. The company’s focus is to produce a video game that will be an instant demand drawer. Thus, the company harnesses the cognitive imagination of its workers to produce a product the has no competitor in the market.

Lee (1)emphasized in his article Fordism was on the point of innovation as well on its post-Fordism economic age. The company focused on outsourcing and globalization of the network to increase its revenues and profits successful. The company focused on the mass production of Ford motor cars. The Ford motor car changed the economic landscape of America. The people were able to travel to many parts of the United States with the use of the Ford car.

The Ford era was eclipsed by the economic depression of the early 1900s. the economic depression was caused by the failure of companies to innovate. The companies were able to adapt to the change in the economic environment. The public’s demand for products had shifted. The shift in demand forced many companies to close shop. The shutting down of companies forcefully increased the unemployment lines. In short, many of the companies failed to modernize their old fashioned business strategies.

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Jin (1) reiterated in his article that talk about cultural imperialism of cultural good was a reality. Korean culture was exported to different countries. Korean culture was warmly accepted in many countries around the world. The Korean exported their culture through Korean movies. The people of other nations immediately fell in love with the intricately woven Korean television serial movies. The Koreans successfully exported their Korean songs and music to countries around the world.

Korean music was an installed success in other countries. Consequently, many Korean music bands displayed their music in many Asian as well as other countries. The United States and some European countries focused on exporting the American and European cultures to the other countries. Consequently, many countries have grown to accept the American culture in European, Asian, and other countries. The Koreans are only duplicating the American’s and the European’s policy of exporting their cultures or imperialism to other countries around the world.

Dean (1) emphasized in his article that self-access and profit maximize can be enhanced. With the advent of the internet, cable, and satellite venues, news of events happening in one corner of the world can be easily transmitted to different parts of the world in a split second. In response, many persons from different parts of the world were able to send disgust letters to convince United States President Bush to stop their plans to bomb Iraq.

The people from different parts of the world were able to send their feelings, anger, opinions, suggestions, and disgusts to the United States president. With the advent of information technology, companies can now sell their products and services to clients anywhere around the world. The American people do have to travel to the United Kingdom to know if the peace and order situation is currently okay.

Sacom Article

The Sacom article emphasizes that worker exploitation and the ultimate resistance that equal suicides in Foxcom are realistic. The company pays its Chinese workers very low salaries to produce the company’s electronic products. Electronic products are exported to the United States and other parts around the world. Consequently, the products will easily sell because the selling prices are lower.

The China-based company, Sacom, will generate lots of profits from selling the company’s products and services. However, several individuals could not cope up with payments. suicides included the 17 young workers who committed suicide because the workers could no longer keep up with rigorous benchmarks of the Guerilla movement. Likewise, Sacom management is serious about improving the working lives of its inhabitants.

Schiller was correct in stating in his article that talk about transnationalization should be put to reality. The companies eagerly use the internet and other modern-day inputs. Most of the companies focus on selling their products in countries outside the company’s leader. Schiller emphasized that managers must learn to adapt to the current ever- work environment. The companies learn to adapt to every cultural outpouring of each country where the company’s products are sold. whenever the Indian marketing personnel will be using a landfill, For example, the prospective client n Brazil would have a different culture when compared to the culture of the multinational company’s main office location.

With the advent of information technology, their possibility of increasing the current period’s revenues is now very realistic. The company can sell its products and services on the internet. The company is not beset with insurmountable hurdles like the delay in information transfer.

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Klein (1) emphasized in his article that talk about disaster capitalism should be strategically done to ensure continued revenues and profits discussed. The strategic management process includes implementing safeguards. The safeguards will ease or eliminate the occurrence of accidents. All resources should be maximized to salvage what has been left from the onset of a disaster. The 1974 Tsunami caused the death of thousands in Asia. Capital should be used to bring back the destroyed locations to their former majestic stage. The stage is the time before the attack. the Tsunami had not appeared from anywhere.

Lee (1) emphasized in his article about Fordism that there were repetitive negative and positive twisted versions of Fordism. Fordism focused on outsourcing to increased its profits. The company used outsourcing to reduce its production and marketing expenses. Lee emphasized in his article Fordism was on the point of innovation as well on its post-Fordism economic age. The company focused on outsourcing and globalization of the network to increase its revenues and profits successful. The company focused on the mass production of Ford motor cars. The Ford motor car changed the economic landscape of America.

Davies (1) emphasized in his article that unregulated factories must be placed under control. The unregulated factories may come out detrimental to the community. The continued proliferation of unregulated factories may be tempted to violate the laws of the land, especially in Dubai. Unregulated factories can produce whatever they want. Some may even violate the labor laws promulgated by the International Labor Organization as well as the international migrant workers’ convention policies.

Based on the above articles, the political economy of communication focuses significantly influences the decision-making process. The articles above show that information is necessary for management to enhance their current decision-making activities. The articles show that economics should be included as part of the variables in decision-making activities. Indeed, the political acts or inactions must be based on the economic conditions, including supply and demand situations, presents.

Works Cited

Adorno, T., The Culture Industry: Selected Essays on Mass Culture. London: Routledge Press, 1991.

Benkler, Y., The Wealth of Networks. 2011. Web.

Davis, M., Monk., D., Evil Paradises. 2011.

Dean, J., The Promisses of Communicative Capitalism.

Dyer-Witheford, N., Peuter, G. de Games of Empire London.

Jin, D., Media, Culture and Society. 2011. Web.

Naomi, K., The Shock Doctrine.

Lee, M., Sacom. 2011. Web.

Lee, M., Consumer Culture Plan, New York.

Schiller, D. World Communicates in Today’s World.

Footnotes

  1. General Motors. 2011. Web.
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StudyCorgi. (2021, February 18). Political Economy of Communication. Retrieved from https://studycorgi.com/political-economy-of-communication/

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"Political Economy of Communication." StudyCorgi, 18 Feb. 2021, studycorgi.com/political-economy-of-communication/.

1. StudyCorgi. "Political Economy of Communication." February 18, 2021. https://studycorgi.com/political-economy-of-communication/.


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StudyCorgi. "Political Economy of Communication." February 18, 2021. https://studycorgi.com/political-economy-of-communication/.

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StudyCorgi. 2021. "Political Economy of Communication." February 18, 2021. https://studycorgi.com/political-economy-of-communication/.

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StudyCorgi. (2021) 'Political Economy of Communication'. 18 February.

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