Foster JB and McChesney - The Commercial Tidal Wave

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1、ROM.march.qxd2/26/035:28PMPage1REVIEWOFTHEMONTHTheCommercialTidalWaveROBERTW.MCCHESNEYANDJOHNBELLAMYFOSTERForalongtimenowithasbeenwidelyunderstoodwithineconomicsthatunderthecapitalismofgiantfirms,corporationsnolongercompeteprimarilythroughpricecompetition.Theye

2、ngageinsteadinwhateconomistscall“monopolisticcompetition.”Thisconsistschieflyofattemptstocreatemonopolypositionsforaparticularbrand,makingitpossibleforcorporationstochargemoreforthebrandedproductwhilealsoexpandingtheirmarketshare.CompetitionismostintenseinwhatT

3、horsteinVeblencalledthe“productionofsalableappearances,”involv-ingadvertising,frequentmodelchanges,brandingofproducts,andthelike.Oncethislogictakesoverintwentiethandnowtwenty-firstcentu-rycapitalismitisseeminglyunstoppable.Allhumanneeds,relationshipsandfears,th

4、edeepestrecessesofthehumanpsyche,becomemeremeansfortheexpansionofthecommodityuniverseundertheforceofmodernmarketing.Withtherisetoprominenceofmodernmarketing,commer-cialism—thetranslationofhumanrelationsintocommodityrelations—althoughaphenomenonintrinsictocapita

5、lism,hasexpandedexponentially.Advertisingispartofthebonemarrowofcorporatecapitalism.Yetitdoesnothappenonitsown.Itrequiresadvertising-friendlypoliciesandregulationstoallowittoflourish.Oncetheseconditionsareestablisheditbecomesaself-propellingsystem.Advertisingha

6、sbecomesuchadom-inantsourceofrevenueforthemediaindustriesthatthosemediaoutletsthatdonotattractadvertisingfindthemselvesatadecideddisadvantageinthemarketplace.Advertisingthusbecomesevermoreubiquitous.Oneoftheironiesofadvertisinginourtimesisthatascommercialisminc

7、reas-es,itmakesitthatmuchmoredifficultforanyparticularadvertisertosucceed,hencepushingtheadvertisertoevengreaterefforts.Manyinadvertisingarenotnecessarilyexcitedbythepushtoincreasecommer-ThisarticleisadaptedfromtheforthcomingbookbyMcChesneyandFoster,TheBigPictu

8、re:UnderstandingMediaThroughPoliticalEconomy,tobepublishedbyMonthlyReviewPressinDecember2003.Footnotesprovidingfulldocumentationwillbeincludedinthebook.1ROM.march.qxd2/26/03