AOL Time Warner On January 10, 2000, one of the largest, most powerful mergers was announced to the world. Media giant Time Warner will join forces with the Internet superstar, America on Line. The $183 billion dollar deal is the biggest in history. In the recent past, there has been a wave of merger-mania, both in the United States and in Europe. The merger of the Millennium is between America on Line and Time Warner.
A number one song can make you a millionaire, and some movies become so popular that literally everyone has seen them. Entertainment defines the American scene. It is our culture. It is, then, inevitably a part of everyone's life, if not only through your pocketbook. This, then, is what drives the battle to conquer culture--your money.
According to the Top 200, an Institute for Policy Studies, of the 100 largest economies in the world, 51 are corporations; only 49 are countries. General Motors is bigger than Denmark and over three times the size of New Zealand; the top 200 corporations’ combined sales are bigger than the combined economies of all countries except the largest ten. “It is size with the protection afforded by company law and governments that gives corporations power to make the rules and encourages their arrogance” (Madeley). Globalization presently is dominated by corporations that have too much freedom without any repercussions to their actions. Corporations are able to increase their wealth as well as political and economic power through freedoms above that of individuals.
Excitement in foreign investment like this can greatly help those foreign economies and therefore help the world economy. However, the extent and speed at which money was invested in these countries in the 1980s was far greater than anyone could have imagined. The already growing countries grew even more with the investment being supplied by outsiders. Until the crisis, Asia had attracted almost 50% of the total capital investment in developing nations in the world—almost $100 billion in 1996 alone. This foreign money financed power plants, skyscrapers, airports, and a quickly growing export economy.
The issue of the relationship between the mass media and the popular culture has always been a controversial issue in social sciences. The political economists insist on the role of the media industry in the creation of this phenomenon of the twentieth century. Though, advocates such as John Fiske, argue that popular culture is actually the creation of the populous itself, and is independent of the capitalist production process of the communication sector. Basing his argument on the immense interpretive power of the people, Fiske believes that the audience is able to break all the indented meanings within a media message. He also believes- by giving new meanings to that specific message they can oppose the power block that is trying to impose its ideology to the public.
Accordingly, there is danger in having an all-powerful state because personal freedoms are lost. More so, there is power in having knowledge that others do not possess because it is a gateway for the government to control the public if scientific and technological advances are been made. As mentioned before, governments prosper when there is stability and commodification is way of the government achieving that although it does alter human behavior. On the other hand, some would argue that modern society is based on democracy and a controlled state as depicted in Brave New World is impossible to occur but there are indicators in society today that serve as a resemblance. Brave New World emphasizes that the dangers of an all-powerful state, power of knowledge, and commodification are detrimental to modern society.
The late 90’s ushered in a new economy, IPO-funded .com companies. Apparently, investors believed that this new economy was the next big thing. Consequently, this belief, fostered in over-priced stock value. For instance, companies that had never produced any revenue, witnessed their stock trading at enormous value. Therefore, overnight a lot of executives and employees became millionaires (Ljungqvist, & Wilhelm, 2003).
Laura Greene SOC 421 Section 1002 Fall 2013 Dr. Mann Marxist Theories in Todays Society Karl Marx was a German philosopher whose work are thought to still have an influence even on todays society. Marx believed that material goods were the root of the social world and that social life is fundamentally about conflict over food, land, money, and other material goods. The ideal government for Marx would be a communist state where resources are equally shared. However, here in America it seems we will always have a democratic government where the rich get richer and the poor get poorer. For my final paper I will use the marxist theoretical ideas to investigate how Wal-Mart uses their economic and financial power to exploit their workers and suppliers.
Large company, large sales, large workforce; the big three needed for a successful business platform. But, hold the phone, what’s this? Wal-Mart needs to have expenditures to pay for new building sites, pay wages, and give benefits to its employees. How can they complete that big three and still turn a large profit to be in the Fortune 500 number one spot for the past four years running? It’s all very simple: they don’t.
Moreover, because of its high-speed, a number of entrepreneurs are able to organize individual appointments, making contracts with other business partners thus minimizing the number of hours they would spend working in the office. Secondly, news and entertainment industry which incorporates TV, Radio, the Internet, press and other means of media have had a huge impact on Globalization. The speaker outlines how all these news and entertainment spheres made into shared global culture earning billions of dollars. Besides that, lecturer states that there are no people not talking about global culture without affect of Internet, TV, Radio and films. The speaker provides some examples on how this industry has recently become one of the fruitful businesses in the world, as according to him a variety of international TV channels are purchasing popular TV shows, sitcoms, soap operas, blockbuster movies and documentaries most of which are based on common human experience.