Political EconomyOur society is strongly influenced by all media sources. The media shows us what's happening in world news, fashion and much more. Media is our connection to the world and what is happening around us. The political economy approach examines the influence of ownership control, advertising, and audience spending on mass media and the mediated messages we receive daily. Political economy believes that everything about media products is created by structural features (ownership, advertising, and audience spending). The industries and companies that the media works for and work for are organized according to the economic and political factors of our economy. Political economy emphasizes that private ownership has a major influence on the content and structure of media. There are three views on ownership control that Kevin Williams addresses in Understanding Media Theory. First, Marxist political economy believes that there is a direct link between ownership and control. An owner determines who, what facts and ideas the public actually sees. Second, structuralists say that it is impossible to have a direct relationship between ownership and control. Structuralists believe that an owner is not physically capable of following the operations of mediated messages issued daily. There are too many messages sent for an owner to review and accept before production. Instead, structuralists believe they have allocated...