This document discusses the political economy of mass communication and its various definitions and approaches. It begins by defining political economy narrowly as the study of power relations influencing production, distribution, and consumption of resources. It then outlines classical, American, European, and Marxist traditions of political economy. The classical tradition focused on social change and the totality of social relations. The American tradition views political economy in terms of institutional and technological constraints benefiting corporations and governments. The European tradition emphasizes class power and struggle. Marxism places labor at the center and sees the media as determined by the economic base and disseminating the dominant ideology.