Economi politic Term Paper Example | Topics and Well Written Essays - 2000 words

Economi politic - Term Paper Example In short political economy is a methodology that deals with emphasis public choice or economic approach, and institutional adaptation. The concept of political economy can be attributed a lot from Marxism. However, the concept of political economy was replaced by economics after Alfred Marshall released his book in 1980, (Weingast and Wittman, 2008). Political economy is divided into various approaches, which include political choice and Marxian analysis which emanated from the Virginia School and the Chicago school, (Weingast and Wittman, 2008). However, as time went by various approaches to political economy. They include International political economy and new political economy. Political economy is associated with various disciplines. It is associated with communication, sociology, psychology, cultural studies, human geography, anthropology, ecology, and ecology, (Weingast and Wittman, 2008). It is important to understand political economy, and how it influences communication spe cifically mass media. This will help in understanding how mass media has evolved in regard to theories in political economy. This can be achieved by dissecting political economy of mass media. 2. Describe What The Political Economy Of Mass Media Political economy of mass media can be defined as an approach to political economy that focuses branches of media production and the industries of communication within capitalism, and consumption and production of communications and media in regard to flow of information. Political economy of mass media is normally used to measure the effect of mass media on politics. For example, during an election a presidential candidate who is favored by a majority of media houses or is favored by the most popular media houses tends to win the election in question. This is because these media houses tend to give more coverage to him or her hence reaching more people than his or her candidate(s). Hence, governments try to control mass media to make sure t hey are not biased when it comes to politics. This creates a need for setting of rules that are based on the principles of political economy. Political economy of mass media is to some extent important because it ensures that mass media is controlled. This means that media houses do not broadcast anything as they feel like but must follow a certain protocol set by the government (Weingast and Wittman, 2008). This does not necessarily mean that governments should gag media houses. For example, media houses have a wide viewership. If they were to report on false accusation, that would later bring about national insecurity then this would result in serious consequences such the economy falling. Hence, the role of the government in controlling mass media through political economy. 3. Describe Mosco Opinion On The Political Economy Of Mass Media Various academics argued that mass media should be approached in more a economical way than culturally. One of these academics is Vincent Mosco. However, Vincent Mosco is considered to be moderate in his approach to political economy of mass media. This is because he advocates for the three communication processes instead of totalisation. These three processes are spatialization, commoditization, and structuration (Mosco, 2009). He refers to these three processes as entry points in communication. He defines spatialization as the process of going beyond the constraints of time and space in social life. He also defines