The Magical-Market World of Disney

Abstract

Discussions of New Economy generally point to media and communication as dynamic industries that are at eye of free market hurricane. The creation of ideas and images, we are told, has overtaken production of things. The culture of consumer choice that commercial media offer, it is said, provides basis for free societies and human happiness. Time-Warner CEO Gerald Levin proclaimed on CNN in January 2000 that the global media is fast becoming predominant business of twenty-first century, and we're in a new economic age. In this article I would like to take a look at Disney company, one of three largest media firms in world, and a firm often invoked as type of company poised to dominate in twenty-first century. From its evolution as a small Hollywood animation studio, Disney has expanded into a giant media conglomerate (see page 58). From a political-economic perspective we need to ask: How has Disney expanded beyond commodification of children's culture to commodification of culture more generally? How does it exemplify in digital age what Harry Braverman in Labor and Monopoly Capital called the logic of universal market?This article can also be found at Monthly Review website, where most recent articles are published in full.Click here to purchase a PDF version of this article at Monthly Review website.