Blog 7 Arts3091

Posted on April 29, 2012 by

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This week i chose to focus my blog on Michel Bauwen’s Umair Haque’s New Capitalist Manifesto. Essentially he encapsulates the the new era of capitalism as one that has been beneficial in creating value. I have mainly decided to focus on one of his statement’s i have extracted and put it in context with the changing nature of satellite television;

Twenty-first-century (constructive) capitalism is founded on constructive advantage, smart growth, and thick value, which brings rebalance to the great imbalance. Constructive capitalists don’t just outperform, they redefine the boundaries of disruptive outperformance — they “minimize harm and maximize authentic, sustainable, meaningful value”. –

The move away from traditional industrial capitalism is crucial to the debate of a Western imposed cultural media sphere. Today, media in the form of satellite news and television formats have replaced commodities, further enhancing exchange value within the market and ultimately selling on the basis symbolic worth. This structural transformation in the economic market has impacted the way in which leading media corporates prorogate news flow from the West to the rest of the world (Rai and Co, 2007).  Furthermore this argument is supported by traditional geo political approaches to the nature of globalization whereby academics assert that the contemporary satellite news landscape continues to be dominated by the major Western players and economic processes (McChesney, 2000, 2003; Sparts 1998; Thussu, 2003).

When considering the notion of a ‘global public sphere’ the “deterritorializing effect” (Chalaby, 2003; Hannerz, 1996; Tomlinson, 1999; Volkmer, 1993,2003) suggests how globalization is a definitive process in which satellite news channels have the ability to bring audiences together during key moments of breaking news. However empirical evidence further explores how leaders of the news arena like CNN and BBC (Western media) remain prominent in ownership of satellite news programming, thus leading to a ‘one way flow’ of news throughout the world. This further leads to the argument against the sense of democratization where by in reality a ‘CNNization of television news is taking place’ and ‘networks such as CNN and BBC remain the agenda setters in the global news market with smaller, regional players monitoring their content and adopting their methods of production’ (Thussu, 2003). Through an investigation of media ownership on a global scale, Rai and Cottle revealed the only channel with a ‘global’ reach are major Western players such as CNN, BBC, Fox News (expanding its market base with access in six out of nine regions), Murdoch’s News Corporation and Time Warner (Rai and Cottle p.57 Table 1, 2007). Essentially, the imbalance in media ownership is a reality that has lead to genuine concern in Western powers use of media as an ideological cloak and vehicle for propaganda, concealing truth in protection of corporate and government authorities. Therefore while capitalism does allow for greater flow of ideas and cultures there is still a need to create balance by protecting and embracing regional and local forms of television and media to ensure there is a two way flow of capital and technology in the international market.

References

<http://blog.p2pfoundation.net/book-of-the-week-umair-haques-new-capitalist-manifesto/2011/02/13?utm_source=twitterfeed&utm_medium=twitter&gt; Michel Bauwen Book of the Week: Umair Haque’s New Capitalist Manifesto, 2011.Accessed 29 April 2012

Rai, Mugdha and Simon Cottle. 2007. Global mediations: on the changing ecology of satellite television news. Global Media andCommunication 2007: 3, 51. (http://gmc.sagepub.com/cgi/content/abstract/3/1/51)

McChesney, R. (2000) Rich Media, Poor Democracy: Communication Politics in Dubious Times. Illinois: University of Illinois Press.

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