Loenhardt has learned from Piketty that whatever the investment that the rich are doing has a tendency to have positive returns. Piketty uses a formula (r > g) on how the amount of return to the capital can increase economy growth. However, there are things that can effect this formula; war, depression, and income or wealth are taxed on high rates are some effect that can cause unbalance economy (545). After Piketty’s points out his ideas, Leonhardt believes that the wealthy can effect inequality. Leonhardt stated, “The fact that the rich earn enough money to save money allows them to make investments that other people simply cannot afford” (545).
As explained by Murphy-Jallali (2017), the Hypodermic or ‘effects’ model relates directly to what exactly it is that media do to their audiences. The audience in this case is seen to be almost hypnotized by the media, which is where the power lies. This model assumes that the media effects the audience negatively, which stems from a position of moral panic. The effects model ultimately portrays the media in a negative light. It portrays the media as a predominantly unfavourable entity which either encourages inactivity and laziness, or encourages unsavoury behaviour such as violence and sex.
The media elite As we have already concluded that the media do not occur by themselves, remains to accept that global elite create media. The concentration of power necessarily includes the concentration of media ownership, because it allows the manipulative use of media in order to provide power in society or group. The effects on media audiences is becoming a privilege of the elite that control the media manage to sell their ideas, opinions and attitudes. This action favors the elite difficulty getting around and inexperience "average" person in communication processes. In this way the elite affects the public, which imperceptibly lead to the desired and planned responses.
Since the majority of the revenue of major media outlets drives from advertising (not from sales or subscriptions), advertisers have acquired a "de facto licensing authority". Media outlets are not commercially viable without the support of advertisers. News media must therefore cater to the political prejudices and economic desires of their advertisers. This has weakened the working class press, for example, and also helps explain the attrition in the number of newspapers. Then, the filter that they use Sourcing Mass Media News by Herman and Chomsky argue that “the large bureaucracies of the powerful subsidize the mass media, and gain special access to the news to get the info, by their contribution to reducing the media’s costs of acquiring and producing, news.
Mass media means that automation is expected to influence mass media crowd. Transmission is typically used to manage the vast plurality of the general public. The global platform for mass media are newspapers, radio, magazines and the Internet. Occasionally locals genuinely wants mass media to produce messages conceiving political issues, social issues, entertainment and news related on pop culture, we live in a culture that depends on information and electronic media to keep moving in the right direction and do out daily activities like work , entertainment, health care, education, travelling or something else we have to do. Mass media has changed dramatically in the industry of mass media over the 50 years.
Besides, those multinational companies have to follow the market demand or utilize those country local image and products because the loyalties of that market. Followed by the increasing of globalisation, not only western that dominate the globalisation but China, India, Russia, Brazil are growing their economic and developing the country, they actually essentially changing the balance of world economy. Other than economic, travel, media and get to contact with foreign culture or ideas are from the internet. Internet is one of the main reason of the boosting globalisation and it is frequently being use by individual and those companies. Due to the impact of globalisation there is an anti-globalisation organisation all over the world.
Mass Media Mass media are diverse media technologies and public communication which reaching to a large number of audiences. They are a subset of mass communication, while we might tease the mass media elements from our definition of mass communication and discuss those elements, this job has essentially been done by McQuail (1983). (Rowland Lorimer, 1994) There are some examples of his definition and explanation of mass media. The first being that the mass media is a distinct set of activities that creates media content. (Rowland Lorimer, 1994) Judging from the statement above, I personally discover that it is a compilation of many sources.
On the other hand, if news media sets wrong agenda it also creates wrong influence towards wrong agenda. As a result, people divided themselves by news and showing hatred to others. One of the duties of journalism is to include complexity, refusing the denial of reality in the affirmation that “there is nothing to understand” on the pretext that terrorists are “barbarians, full stop.” The essential rules of journalistic ethics cover this duty in the independent pursuit of
With this reliance mass media could reinforce false images leading us to act off false information which could result in the public being effectively brainwashed. their also seems to be a larger focus on eyewitness news and professions such as journalism have grown as well despite the fact they as pointed out by Arthur Schlesinger "is more vulnerable to interest, bias, illusion, and wishful thinking"(27). The severity of this is seen by analyzing further complications from varying angles. It is evident that mass media is giving the public a false perception of certain religious or ethnic groups, politics, and health. Upon analyzing these complications, a solution could then be accordingly implemented.
• The Pattern of Media Ownership in Malaysia (MONOPOLY) The economics force and the media holds within a definite country are undeniably powerful as the media are literally being “consumed” by the citizens. The amount of content that were printed, broadcasted and published are abundant that the advertising enterprises starting capitalizing for profits. The media as result can be seen as a parts that made up of commercial and profit making business. As with any businesses, the media are weighed down by the issues of cost consumption, earnings and the ever changing of ownerships patterns. As the media company owns more forms of media chains, they will have a far reach towards the mind of audience.