Political Economy of Media Essay Example | Topics and Well Written Essays - 2250 words

Political Economy of Media - Essay ExampleHe also looks at the economic and cultural internationalization and their copulation with the global commercial market (2001, p.1). The global commercial media do promote cultural globalization. McChesney looks at the technological revolution that is defined mainly by the tooth root development in computing and digital communication. He concludes that the cultural globalization and economic globalization would be impossible without global commercial media. Technological revolution has made the media empire lucrative and realistic this new image of the media company is one that was unimaginable in the past. The emerging technologies in the media economics play a role in encouraging competition among the media companies. In pursuit for profits and economy improvement media, companies embrace the new technology in the market to retard that they provide satisfactory service to their consumers (McChesney, 2001, p.3). The relation between med ia economy, technological revolution can be better understood if we consider the role of advertising. Advertising is a business expense that large firms invest in to commercialize their business. The concept of globalization was made possible through advertising, the media benefits from advertising in the sense that third quarters of the earning from advertising is for the media company. The internet for instance is one of the technological advancement that has been embraced by the media company. McChesney observes that companies like the AT&T, Microsoft, telefonica, and AOL have become media players. The integration of the media system, telecommunications and the computer industries forms a global communication system. It is true that the global media plays a crucial role in the promotion of expansion of global and regional sale of goods and services the global media functions to promote cultural industry. Patrick looks at the cultural industry in the age of globalization and conc ludes that socialization is increasingly being shared. Many nations concentrate on transitioning cultural industries and national interests. Grant states that the cultural industry exists to enforce the capitalist ethos. He describes that culture is a tool for the capitalists to exercise control of an individuals consciousness. permit us consider television as a part of the culture industry. The television has changed the society these days. However, Grant does not view the change as basal but rather as a progression. It is, however, through the television, that advertising has been made a vital part of marketing by many industries. The media achieve the mastery of advertising when cultural expectations are aligned with the investors expectations, the purpose of technological innovators and the goals of entrepreneur ism. Technology has seen the penetration of various cultures into the mainstream. It is necessary to note that culture forms the spirit and instinct of the every na tion. It is also crucial to note that culture also forms the foundation of national development. Yan lei suggest that there is a relationship between culture and economic growth. This he concluded after carrying out various studies that explained the impact of culture on economic development, and technology (2008.p.23). Lin yei observes the cultural industry contribution to the Guangdong province, and he compares it to the contribution by the other industries such as agriculture, and the industrial industry. Lin yei states