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Only a critical political economy approach can adequately explain how the media work today.  

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Only a critical political economy approach can adequately explain how the media work today. Discuss this statement with reference to two of the following: advertising; news and current affairs; television; radio; newspapers; or magazines. To accept such a statement requires an absolute disregard for all other media studies theories and models. The word 'only' in the statement will play an essential part in the overall discussion of the statement, as it is the inclusion of this word which turns the question from objective to subjective. Without the 'only', the statement would seem quite feasible and approachable, but with it, seems unreasonable and quite unfair. While a critical political economy takes a comprehensive approach to understanding the media by linking various institutional aspects, it cannot account for our understanding of the entire media institution. This is where other approaches to understanding the media, such as textual analysis and content analysis help answer the...

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