COMM 1100U Lecture Notes - Lecture 2: Horizontal Integration, Netflix, Market Segmentation
17 Jan 2019
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Lecture 2: political economy: political economy is a sub field towards communicational studies, mode of production = karl marx, audience commodity, hegemony= a term we use to describe the way we view the world. Karl marx & marxism: capitalism as a system, he was interested in how it worked, where it came from and most importantly the effects of capitalism. Not only did he try to describe it as a system, he talked about how it played an affect on ordinary people: discussed about how our labour impact our social standards. Example: by raising minimum wage (base), it will create a higher minimum wage that will give people higher and better opportunities in the workforce and social activities (superstructure) What someone is willing to give you: commodification: the process of turning use value into exchange value. Turning what something is useful for, by turn it into something it is worth (giving it an exchange value) is referred to as commodification.
