Hypercapitalism: language, new media and social perceptions of value

Graham, Philip W.

doi:10.1177/0957926502013002408

Cited by 48 publications

(59 citation statements)

References 26 publications

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“…For the purposes of this paper we define political economy as the practical intersection of values (the economic) and power (the political) (Graham 2006). When one speaks of values and economics in the same sentence, the contemporary assumption is that the topic is money.…”

Section: Political Economy Values and Moral Philosophymentioning

confidence: 99%

School system as axiological medium

Graham

Gunders²

2010

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This paper analyses the Australian Values Education Program (VEP) within the framework of late-classical political economy. Using analytical methods from systemic functional linguistics and critical discourse analysis, we demonstrate that the VEP is an unwitting restatement of the principles of ideology as developed by the likes of Destutt de Tracy and the Young Hegelians. We conclude that the sudden shock of globalisation and the post-national cultures this has entailed is in many ways similar to the shock of formal nationalism that emerged in the late-Seventeenth and early-Eighteenth centuries. The overall result of the VEP for the Australian school system is a massive procedural burden that is unlikely to produce the results at which the program is aimed.

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Section: Political Economy Values and Moral Philosophymentioning

confidence: 99%

School system as axiological medium

Graham

Gunders²

2010

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“…In response to our current, comparable situation, education systems in the "hypercapitalist" (Graham, 2005) economies of North America, Europe, and the AsiaPacific have attempted to respond to fundamental and profound changes in society, economy, and culture. Over the past three decades, they first viewed educational technology as a logical extension of school science and mathematics education; that is, as a matter of scientific technology and technique.…”

Section: What Is To Be Done?mentioning

confidence: 99%

Digital Ethics Now

Luke¹

2018

L & L

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relationships and reshape the arts and sciences notwithstanding, digital media are amplifiers of the best and the worst, the sublime and the mundane, the significant and the most trivial elements of human behaviour, knowledge, and interaction. How could it be any other way? It is all here online-statements, images, sounds; acts of hatred and love, war and peace, bullying and courtship, truth and lies, violence and care, and oppression and liberation-and in every possible third or fourth space, in ever proliferating redundancy, cut through with noise and clutter.How we can enlist and harness these media to learn to live together in diversity, mutual respect, and difference-addressing complex social, economic, and environmental problems while building convivial and welcoming, just and life-sustaining communities and societies-is the key educational problem facing this generation of young people and their teachers. This is an ethical vision and an ethical challenge.Many school systems are in shock and denial over this turn of events, especially given the historic use of print textbooks as a practical and effective means for defining and controlling what might count as official knowledge for children and youth. Schools have responded with a patchwork of rules governing what kids can and cannot do in their online exchanges and communications. These emerge in a reactionary and agglomerative way, often in response to incidents of abusive, illegal, or symbolically violent online acts, or to events whose origins are attributed to online actions-from suicides to gun violence to pedophilia. Schools work from a mix of regional and district-level policies that include constraints on hardware access, proprietary lockout and surveillance systems, privacy and intellectual property regulations, and school-level codes and class rules on everything from texting and screen time to plagiarism and copying from internet sources. These sit alongside home-based restrictions (or freedoms) on time, access, and use in those families that can afford mobile and online devices. This is complicated by increasing law enforcement efforts to prevent the online recruitment, exploitation, and indoctrination of youth by terrorist groups, financial scammers, and criminal organisations. In this thicket of overlapping systems of surveillance, unmediated exchange by youth and children would appear to be the exception rather than the rule (Boyd, 2015). Taken together, the digital strategies of large public education systems in North America, the Asia Pacific, and Europe appear to be at best post hoc and piecemeal-motivated by genuine concern and real problems, but typically lacking stated ethical foundations and working within prevailing neoliberal policy frameworks (the latter of which have eschewed engagement with educational philosophy and ethics more generally). This underlines what has become a significant (meta) ethical dilemma in itself-that the policy push for teaching through and about educational technology presents itself as ethically and poli...

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“…These intersubjective cognitions are inseparable from the displays of information on the trading screens (see Knorr-Cetina and Bruegger, 2002). Trading transactions are themselves symbolic/communicative actions that reflexively constitute shifts in market reality by transforming the legitimate claims of ownership inscribed in the securities/assets traded and also by crystallizing intersubjectively recognized prices (see Graham, 2006;Thompson, 2003). Price movements are typically reported by media as external events attributable to the agency of 'the markets' as if they were an impersonal force of nature akin to the weather.…”

Section: Financial News and Informational Reflexivitymentioning

confidence: 99%

“…If enough investors pay attention to a source or a rumour then, at least in the short-term, financial news can generate self-fulfilling prophecies (Sant and Zaman, 1996). Davis's (2005) analysis of media effects on institutional traders in the London Stock Exchange suggested that while there was little evidence of direct effects in the manner assumed in early mass communication models, financial news was found to be influential in other ways: it provides indications of market consensus and what most market analysts are thinking, encourages traders to anticipate/preempt market reactions to expected media announcements, and cultivates an environment wherein real-time access to market information accentuates traders' sensitivity to what others in the market are doing thereby incentivizing herd-like behaviour (see also Graham, 2006;Thompson, 2003).…”

Section: Financial News and Informational Reflexivitymentioning

confidence: 99%

Market Manipulation? Applying the Propaganda Model to Financial Media Reporting

Thompson

2009

WPCC

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Herman and Chomsky's Propaganda Model (PM) has emphasized how the various 'filters' can lead to news reports misrepresenting the vested political and economic interests that underpin US foreign policy. However, there has been relatively little attention paid to the implications of the PM for media operations in another key dimension of capitalism: financial markets. Traders require timely and accurate information about changing market conditions. However, financial news announcements influence investor perceptions and sometimes trigger trading activity that reflexively changes the market conditions being reported. The interdependency of financial reporters, traders and analysts means that financial news production cannot be adequately understood in terms of how the PM filters distort media representations of markets. This article aims to critically analyse how financial news/information does not merely represent financial reality but reflexively constitutes it. The analysis will also highlight which aspects of financial news production are consistent with the PM as well as those that contradict it. Background: Propaganda Model DebatesThere can be little doubt that the Propaganda Model (hereafter PM) developed by Edward Herman and Noam Chomsky (1988) has been one of the most influential and controversial media theories to come out of North America. The PM's basic proposition is that news media coverage is systematically shaped in favour of elite state and corporate interests by the operation of five structural 'filters'. These include ownership arrangements, reliance on advertising revenue, dependency on elite sources, concern to avoid 'flak' (in the form of complaints, lawsuits, career penalization and so forth) and ideological conformity (originally anti-communism, but subsequent revisions include pro-neoliberalism and anti-terrorism).

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Hypercapitalism: language, new media and social perceptions of value

Cited by 48 publications

References 26 publications

School system as axiological medium

School system as axiological medium

Digital Ethics Now

Market Manipulation? Applying the Propaganda Model to Financial Media Reporting

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