Social Media And Political Economy - 1174 Words

Fuchs s article relates social media with power and political economy, which roots in Karl Max s critical theory toward capitalism s exploit on free labor sources. Recall from what Fuchs mentioned on chapter one, he discussed about the concept of social media by introducing a four dynamic process: cognition, communication and co-operation. Each one is closely associated with a notion of sociality from different philosophical points of view. However, in this chapter, he extends the critical theory focusing on analyzing social media as ideology and political economy. Fuchs started with pointing out that contemporary social media are not participatory. He argues that researchers who stand for social media-optimism overlooked two central†¦show more content†¦In the sphere of production, labors are forced to enter class relations and produce profits in order to survive. This process enables capitalists to take advantage of labor s surplus value. Surplus value is the part of the w orking day that is unpaid by the capitalists. Thus, the production of surplus value is the process of exploitation. Fuchs relates the notion of exploited surplus value to the critics of social media advertising. Reorganizing the watching audience in terms of demographics is a form of relative surplus value production (Jhally, 1987). In non-targeted advertising, advertisers spread multiple advisements to different user groups according to their online behavior and shopping interests that access by monitoring them on social media platforms. In contrast, traditional media such as TV, audiences see the same advertisement at the same time. In targeted advertising, the advertisers can spread more advertising that is more likely to fit in the interests of consumers at the same time. As the efficiency of advertising increased, the surplus value process speeds up. Moreover, the difference between traditional media and social media is that users on stoical media sites are both content produce rs and consumers. In addition, audience communication in traditional media such as newspaper and radio were based on a statistical assessment of audience rates and characteristics. While, social media monitor users Show MoreRelatedThe Theory Of The Political Economy872 Words   |  4 PagesThe theory of the political economy in the context on media studies, is that behind every media product, has a commercial and economic imperative and as such, has particular impacts on the media content that would not exist if such imperatives ceased to exist. It is these impacts that both limit media products, and allow media products of a particular nature exist. 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