Welcome to Bookmarker!

This is a personal project by @dellsystem. I built this to help me retain information from the books I'm reading.

Source code on GitHub (MIT license).

Let's begin with the advertising-supported commercial media as part of the whole economy. How do they make a profit? A short answer would be that the media speed up the selling of commodities, their circulation from production to consumption. Hence, they speed the realization of value (the conversion of value into a money form) embodied in commodities produced everywhere in the economy. Through advertising, the rapid consumption of commodities cuts down on circulation and storage costs for industrial capital. Media capital (e.g., broadcasters) receives a portion of surplus value (profits) of industrial capital as a kind of rent paid for access to audiences. The differences between this rent and its costs of production (e.g., wages paid to media industry workers) constitute its profit.

—p.92 Watching as Working: The Valorization of Audience Consciousness (91) by Sut Jhally 6 years, 3 months ago