History (week3)

Question 1

The Attention Economy Overview

Answer 1

In the attention economy, information is abundant, attention is scarce, and firms capture attention to sell to advertisers.

Question 2

Attention Economy Historical Examples

Answer 2

Historical examples of the attention economy: New York newspapers in the 19th century, radio broadcasting in the 1920s and 1930s, commercial TV in the 1950s and 1960s, and internet/social media in the 21st century.

Question 3

Attention Merchants vs. Propaganda

Answer 3

Tim Wu’s book “The Attention Merchants” explores entrepreneurs and governments using attention for profit and propaganda.

Question 4

From Propaganda to Public Relations

Answer 4

Wartime propaganda during WWI inspired commercial interests to use similar techniques for peace. Advertising agencies applied these techniques to consumer products.

Question 5

Benjamin Day and the New York Sun

Answer 5

In the 1830s, Benjamin Day created the mass-market New York Sun by offering news at a low price and relying on advertising revenues.

Question 6

Origins of Radio Broadcasting

Answer 6

Radio broadcasting, an attention-based business model, emerged with Marconi’s wireless tech. David Sarnoff and RCA played a crucial role.

Question 7

Commercial TV and Advertising

Answer 7

TV advertising’s power was evident in consumer product promotion. Prime time TV slots were valuable for attracting consumer attention.