Media Economics: Applying Economics to New and Traditional Media differs from ordinary media economic texts by taking a conceptual approach to economic issues. As the book progresses through economic principles, authors Colin Hoskins, Stuart McFadyen, and Adam Finn use cases and examples to demonstrate how these principles can be used to analyze media issues and problems. Media Economics emphasizes economic concepts that have distinct application within media industries, including corporate media strategies and mergers, public policy within media industries, how industry structure and changing technologies affect the conduct and performance of media industries, and why the United States dominates trade in information and entertainment.
Chapter 13: Government Intervention
Why do governments intervene in the economy? What is market failure? What are externalities, how do they relate to television programs and other media goods, and what are the implications for public policy? Why is broadcasting, but not newspaper publishing, usually regulated and sometimes subsidized? Why do most governments protect intellectual property rights through patents and copyright? What are public goods? Does off-air broadcasting qualify as a public good? What role does government have in the provision of such goods? What are the efficiency implications of advertising-funded broadcasting? What is the justification for creating a public service broadcasting organization? Why do governments enact competition (antitrust) laws? What is meant by government failure? What are the motives of politicians, bureaucrats, and voters in ...