This paper “Success of Capitalism through Mass Media” discusses the broader implications of the relationship between the two concepts in the light of the evidence presented. The paper will conclude on probable chances of success or failure of capitalism in the foreseeable future…
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The word ‘capitalism’ appears to have its origin in long-distance trade in the past where ships went to different islands in search of pepper or spices, with the expectation that those making the movement of the goods would benefit from the scarcity of goods in one place and abundance in another place. Since the ships need to travel and there were costs to the goods and transporting same, revenues above costs or profits from the price of sold goods were expected in return (Fulcher, 2004). However, there are also risks in not being able to recover the cost due to other factors that may come into the picture (Fulcher, 2004).
Capitalism may have evolved in magnitude from the old times but it is essentially referring to an economic order where there is private property ownership. It could be considered as a consequence of democracy because of the nature of political and economic rights given to individuals. Along with private ownership, the market or the law of supply and demand must be allowed to operate which entails assigning a price to each of the factors of production including land, labor, capital, and entrepreneurship (Slavin, 1996).
The term capitalism is distinguished from communism where the means of production is owned by the state. In the capitalistic system, the market forces of supply and demand dictate what gets produced and how much it gets produced. In communism, the government as planning agency dictates what gets produced and how much it gets produced (Slavin, 1996). Capitalism is also compared to socialism as an alternative economic order. Socialism is closely related to communism since both concepts entail massive government or state intervention in terms substantial degree of government planning instead allowing market forces to function freely (Slavin, 1996).
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“Success of Capitalism through Mass Media Essay Example | Topics and Well Written Essays - 3250 Words”, n.d. https://studentshare.org/politics/1576464-success-of-capitalism-through-mass-media.
The paper will discuss the impacts of these sociological theories of mass media on the society in which I will discuss how does each sociological theory apply in the social institutions, what are the similarities and differences in the theories, how does each theory affects the individual who is the part of the institution, how does each theory affect the approach to social change with in the selected institution and with in the sociological institution selected, how does each theory affect the views of society.
What is represented by the term, mass media is a matter of contest but still general agreement has it that mass media comprise of “TV, radio, movies, videos, CDs, audio tapes, the Internet, newspapers, magazines and books” (Brym and Lie, 2006, pp.108).
In the past, teenagers were the ones that were more obsessed with celebrities, putting up posters of their favorite stars or the ones they had crushes on on their bedroom walls. Today, however, the celebrity culture affects people of all ages and races across countries and geographical places around the world regardless of their culture.
Just to mention but, a few, improved communication has improved international relations, trade, and access to information, entertainment, and improvement in education among others. However, these benefits have not come without a price. Improved communication has promoted crime including international terrorism, robbery, fraud, while some other kinds of mass media are blamed for negatively influencing children.
It is both an economic and a sociological term that means that people believe that if they purchase these goods then they will have social prestige or will appear to be better than someone else. Most times these are expensive items or have designer labels.
Ironically, in this age of information revolution the audience has also become a part of the consumer calculation with media advertising and cultural studies defining their audiences of journalism, fiction or popular media genres as target groups. The marketing views them as consumers of media products and target groups of advertisements, or as potential consumers for their products or services and its ultimately is about selling an idea.
The coming together of different media has led to the merger of an astounding variety of media networks. This has in turn resulted in the emergence of the mass media as a public space wherein the masses can not only interact but also express their individual opinions.
In mass media, this phenomenon ensures that the culture of consumerism is deeply entrenched in the masses. Advertising solidifies capitalism by redefining values that were needed to feed the mass-production machine.
The power of advertising lies in
Sometimes we feel amused by the lives of rock stars even when we understand that it is not virtuous at all. The point is that it is the mass media which creates an opinion about different thing or subjects,