Cultural Industries – Theory Assignment

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Cultural Industries – Theory Assignment
The dominant traditions have an important role to many economies in terms of assessing change and continuity that involves the growth of prosperity and employment in the cultural industries. The process to determine the best solution may be complicated and tiresome as controversy surrounds these traditions. Profit generating and control may be the main reasons of these approaches, but they also carry an important characteristic in how society understands “the relationships between culture, society and economy.” (Hesmondhalgh, 2007, p.6) Many compare and contrast on whether political economy or cultural studies approaches are more useful towards the study of media and popular cultural. If both approaches can get past their differences, perhaps they may have the potential to work in harmony together in achieving the same goals.
When examining the power of cultural production, political economy is known to have stronger concepts than “cultural and media economics and, liberal-pluralist communications studies (Hesmondhalgh, 2007, p. 33). This means capitalism is a key role of consumption and production of culture as it is in favour of unequal control, revenue and status. In result of this, it is clear capitalism in political economy only caters to the interests of the rich and powerful, which in return attracts negative criticism from personal who works in media organizations. According to class lecture notes, there are four ways to differentiate “critical political economy approaches to the media from mainstream economic approaches” (Hesmondhalgh, 2007, p.33). First, political economy means the study of historical change and that it means economics is changing over time. Also, it suggests considering the past to understand and interpret change in economy. Second, it implies to think about the notion if we are going to talk about ownership we must look at all the interlinings of everything as a whole, such as the relationship with politics and economics. Thirds, it talks...

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