Freud&Consumerism: Century of self-4

Ali G with an economist

By the way, sorry about the delay of the latest post of the series.

Country on focus series..

Hi all!

The new post of the effects of the economic crisis series will be here soon. Keep following..

Freud&Consumerism: The century of the self-3

Country on focus: Turkey-Part 1

Being an important economical dynamic in Middle E ast and South-East Europe, Turkey has severely feeling the effects of the sub-prime mortgage crises followed by the global crisis. Due to the fact that Turkey is a newly industrialized country -despite overcoming may of its properties- its economics heavily depends on the stable global economics. Turkish lira (TL) has lost 25% of its value since Jan. 2008. In addition, it saw the deepest point on the 5th of March 2009: 1 $ = 1.79 TL. It has been a while since the TL has been suppressed by the Central Bank of Turkey(CBT). During the times of crisis CBT provides liquidity and preserves the markets to avoid the atmosphere of panic. However the Turkish economy couldn't stand along anymore. The "Mayday" from General Motor (GM) has shaken the world markets and the current situation has added up many negative pressure for a country like Turkey whose market's two-third is circulated by foreign capital.

The industry's capacity has decreased with a rate of sharp 22.9% in March. The effects are still green for the automobile industry-known as the second biggest industry in Turkey after textile. Thousands of workers has been laid off from the factories located in the capital of car industry, Bursa. This depression in the car industry also affected the growing rates for the first quarter.

Turkey is a partially globalized country. Thus this gives several advantages like protection in short term. In addition the Turkish executives are highly experienced in crisis management. (remember the 1999&2001 crisis) However the question is: are those factors enough to avoid the effects of the global crisis in wide range in the real sector in Turkey.

According to the expectations of IMF and EU commission, Turkish economy will lose value of 5.9% during the year 2009 and the inflation will be around 6.8%. These numbers, however, not always reflect the truth. If one takes a look at the commodity prices like natural gas, electricity and water it can be directly marked that these are in a trend of increase up to 40% in average. The price of natural gas has increased 72.6% via 4 stages by the beginning of Feb. 2009. Later on there occured several cuts in the price -18% in industrial and %17 commercial- , but those were never enough to compensate the unstoppable rises.

The unemployment rate of 16% is a serious fact to be considered. Hosting a very young population (40% of 78 mil.) Turkey will suffer from these rates. the 40% decrease in the export volume. 

The numbers sometimes seem to be fuzzy, but definately not in the case of Turkey. They are strictly pointing the direction of economics problems. 

PetroChina

Chinese petrol corporation PetroChina's market values reached $336 billion on May 22 2009, exceeding briefly this day for the first time the market value of leading Exxon Mobil Corp. Good news for China!

Consuming Kids: The Commercialization of Childhood

This award winning documentary is about the influence of the children on the consumption.


“A cri de coeur on behalf of people too young to suspect how their ‘share of mind’ is being jealously divided. . . . Linn does a fine job of exposing the wickedness of preying commercially on the young.”
–The Wall Street Journal

"A measured, but ultimately devastating, critique of consumerism and American childhood.”
–Mother Jones

In Consuming Kids, psychologist Susan Linn takes a comprehensive and unsparing look at the demographic advertisers call "the kid market," taking readers on a compelling and disconcerting journey through modern childhood as envisioned by commercial interests. Children are now the focus of a marketing maelstrom, targets for everything from minivans to M&M counting books. All aspects of children's lives—their health, education, creativity, and values—are at risk of being compromised by their status in the marketplace.

Interweaving real-life stories of marketing to children, child development theory, the latest research, and what marketing experts themselves say about their work, Consuming Kids reveals the magnitude of this problem and shows what can be done about it.

Some Facts:

From 1992 to 1997, the amount of money spent on marketing to children doubled, from $6.2 billion to $12.7 billion.[i] Today they are spending at least $15 billion.

Children influence purchases totaling over $600 billion a year.[ii]

Children spend almost forty hours a week outside of school consuming media, most of which is commercially driven.[iii]

The average child sees about 40,000 commercials each on television alone.[iv]

65% of children eight to eighteen have a television in their bedroom as do 32% of children two to seven[v] and 26% of children under two.[vi]

The marketing industry has found that babies are requesting brands as soon as they speak.[vii]

In 2002, McDonald’s spent over $1.3 billion on advertising in the United States.[viii]

Children are more vulnerable to marketing than adults. Very young children are not able to distinguish between commercials and television programs.[ix]

Until the age about eight children can’t understand persuasive intent–that the purpose of commercials is to entice them into buying the product being advertised.[x]

In 2000, a federal report from the General Accounting Office called marketing in schools a growth industry.[xi]

More children recognize the Budweiser Frogs than Smokey the Bear.[xii]

85% of American parents would like to see children’s television programs commercial free.[xiii]

[i]. Lauro, PW (1999) Coaxing the smile that sells: Baby wranglers in demand in marketing for children. New York Times, November 1, C1+.

[ii]. Packaged Facts. “The Kids Market.” New York: MarketResearch.com, March 2000.

[iii]. Roberts, DF et al (1999) Kids & Media @ the New Millennium. Menlo Park, CA: The Henry J. Kaiser Family Foundation.

[iv]. Kunkel, D. (2001) Children and television advertising. In D.G. Singer & J.L. Singer (Eds.), The handbook of children and media. Thousand Oaks, CA: Sage Publications, 375-394.

[v]. Roberts, 1999.

[vi].Rideout, V.; Vandewater, E.;and Wartella, E. Zero to Six: Electronic Media in the Lives of Infants, Toddlers and Preschoolers (Melnlo Park: CA: The Henry F. Kaiser Family Foundation, 2003) pg. 5.

[vii]. Paul Kurnit quoted in Duncan Hood, “Is Advertising to Kids Wrong? Marketers Respond,” KidScreen, November 2000, 16.

[viii]. “100 Leading National Advertisers,” Advertising Age, 74 (25) 23 June 2003, 2.

[ix]. Atkin, C. (1982) Television Advertising and Socialization Consumer Roles. In D. Pearl (Ed.), Television and Behavior: Ten Years of Scientific Progress and Implications for the Eighties. Rockland, MD: National Institute of Mental Health, 191-200.

[x]. Kunkel, D. (2001) Children and Television Advertising. In D.G. Singer & J.L. Singer (Eds.), The handbook of children and media. Thousand Oaks, CA: Sage Publications. 375-393.

[xi]. Shaul, MS. Public Education: Commercial Activities in Schools. Report to Congressional Requesters. Washington, D.C.: United States General Accounting Office, 2000.

[xii]. Lieber (1996) Commercial and character slogan recall by children aged 9 to 11years: Budweiser frogs versus Bugs Bunny. Berkeley, CA: Center on Alcohol Advertising.

[xiii]. Lake, Snell, Perry, and Associates. Television in the digital age: A report to the Project on Media Ownership and the Benton Foundation, December, 1998. Susan Linn ©2004

Note: Sorry about the slovakian subtitles but this is the only full version of the documentary I could find. If you find the link without subtitles please let me know.