Financial capital, not just ownership, drives media consolidation

Evidence

But even political economy of media has had little to say about the effects of finance and investment on this consolidated structure, resulting in an incomplete understanding of “how capitalism works.” I would add to McChesney’s concern a question: Is it even the correct mountain that we’ve made into a molehill? We need to give greater focus to control and structure in the media, yes, but also refocus on the true lever of power in contemporary capitalism: financial capital. — Andrew deWaard, Derivative Media, 31

Categorization

• XREF: Echoes the reader’s Priors on financial capital from other critical theory — but here deWaard claims standard political economy itself misses finance as the true lever.