CMN2160 Lecture Notes - Lecture 10: Profit Motive, Commodification, Cultural Studies

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Adam smith: classic theory- the public nation. System based on private property and individual decision making. Argues free markets encourages individualism dismal science . Disagreed that all humans are equal and disagreed with the end of slavery. Political economy of communication: how media and communication systems impact social and political power and whether they are for/ against democracy and self-governance. Ex. patterns of ownership, concentration of ownership, issues of control and power. Role of communication industries in modern society. Debate and the modern electronic public sphere. Mcchesney: the relationship between media and communication systems the broader social structures, critic. Digital disconnect: commercial pressures on the internet have hurt its potential for democratization, critical of utopian view of the internet, anonymity. Cultural studies approach/ critical political economy: european approach, murdock, How the profit motive drives businesses and how the dominant ideology of business is shown in the structure and concentration of companies.

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