Political Economy Theory Concepts

The video explores the political economy theory of media, focusing on how power and wealth influence media systems. It discusses the historical context of the theory, highlighting contributions from Adam Smith, David Ricardo, and Karl Marx. The video explains three social processes: commodification, spatialization, and structuration, and their impact on media production and consumption. It emphasizes the importance of being skeptical of media messages and understanding the social forces shaping them.

What does political economy theory primarily focus on in media studies?

• The psychological effects of media consumption

• The technological advancements in media

• The influence of power and wealth on media systems

• The cultural symbols in media texts

Which historical figure critiqued the rise of capitalism during the Industrial Revolution?

• John Maynard Keynes

• Adam Smith

• Dave Ricardo

• Karl Marx

How does political economy theory view the relationship between different aspects of life?

• As solely economic in nature

• As irrelevant to media studies

• As interconnected and influencing media

• As separate and independent

What is the role of moral philosophy in political economy theory?

• To ignore cultural influences

• To encourage social change and address societal problems

• To focus solely on economic aspects

• To describe society without encouraging change

What is the unity of thought and action referred to in political economy theory?

• Political autonomy

• Economic determinism

• Cultural hegemony

• Social praxis

What is the process of turning goods and services into marketable products called?

• Structuration

• Spatialization

• Globalization

• Commodification

Which social process involves overcoming the constraints of space and time in business?

• Localization

• Commodification

• Spatialization

• Structuration

What does structuration in political economy theory emphasize?

• The independence of individuals from social categories

• The naturalization of contested ideas

• The separation of thought and action

• The focus on individual achievements

Which process is characterized by the extension of corporate power through acquisitions?

• Monopolization

• Commodification

• Structuration

• Spatialization

What does political economy theory encourage us to be towards media?

• Completely trusting

• Reasonably skeptical

• Indifferent

• Overly critical