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Lecture 3

Lecture Three: Mass Media and the Economy

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David Young

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Mass Media and the Economy: Studying the Impact of the Economy on Mass Media September 12, 2013 – September 24, 2013 Building on Marx • Ownership of the means of production o Ownership and class  The Bourgeoisie (The Capitalist Class) owns the means of production • They also hire large numbers of workers to work in the factories or with the technology to make commodities  The Proletariat (The Working Class) does not own the means of production • They sell their ability and capacity to labour to capitalists who give them a wage  The Petty Bourgeoisie (The “Small” Capitalists) own the means of production, and they hire small numbers of workers • They may hire a few hands to work with them or they may get family members to get some of the work for them – very few workers hired by the petty bourgeoisie • Small business owners or farmers o Ownership Concentration: The process whereby ownership by the means of production is held by fewer and fewer firms  As capitalism developed, there would be deepening ownership concentration – Marx  That is due to the imperatives of the capitalists economy – they would put pressure on
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