IDEAS home Printed from https://ideas.repec.org/p/zbw/capwps/202201.html
   My bibliography  Save this paper

Star Power and Risk. A Political Economic Study of Casting Trends in Hollywood

Author

Listed:
  • McMahon, James

Abstract

This paper builds an empirical and theoretical model to analyze how the financial goal of risk reduction changed the insides of Hollywood's star system. For the moviegoer looking at Hollywood cinema from the outside, the function of the star system has remained the same since the 1920s: to have recognizable actors attract large audiences to Hollywood's biggest and most expensive productions. The composition of this system is, however, sensitive to many historical changes in the business and culture of cinema. If the evolution of Hollywood's star system is shaped by broader social factors, risk reduction would be a key factor after 1980. This paper uses Internet Movie Database (IMDb) casting data to analyze how the star system was a factor in this period of risk reduction. Film casting assists risk reduction when a star system is built on controlled repetition. Repetitive casting - choosing the same people to star in a series of films - is a form of control because repetitive selection is the inequality of opportunity by another name: if an in-group is internally repetitive when alternatives exist, an out-group is repeatedly excluded. There are two key conclusions to the analysis of the IMDb dataset. First, casting repetitiveness/inequality in the blockbuster era of Hollywood (1980-present) is low compared to Hollywood's "classical" studio system (1930-1948). Second, the historically low repetitiveness/inequality can be misleading if we ignore sector characteristics such as firm size and level of theatrical distribution. Within the top-tier, whether measured by size of distributor or number of opening theatres in theatrical release, Hollywood relies on repetitive casting. The theoretical part of this paper will identify the role of capitalist power in the formation of a star system. Capitalist power, in this case, is defined as the ability of Hollywood to control everything from the industrial production of films to the broader social relations of cinema. This control is never absolute, but the role of capitalist power in the star system has a key purpose: to make sure that casting decisions are complementary to business interests.

Suggested Citation

  • McMahon, James, 2022. "Star Power and Risk. A Political Economic Study of Casting Trends in Hollywood," Working Papers on Capital as Power 2022/01, Capital As Power - Toward a New Cosmology of Capitalism.
  • Handle: RePEc:zbw:capwps:202201
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/248556/1/20220100_mcmahon_star_power_and_risk_wpcasp.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. James McMahon, 2019. "Is Hollywood a Risky Business? A Political Economic Analysis of Risk and Creativity," New Political Economy, Taylor & Francis Journals, vol. 24(4), pages 487-509, July.
    2. Blair Fix, 2019. "Personal Income and Hierarchical Power," Journal of Economic Issues, Taylor & Francis Journals, vol. 53(4), pages 928-945, October.
    3. Fix, Blair, 2019. "Personal Income and Hierarchical Power," SocArXiv pb475, Center for Open Science.
    4. Fabio Clementi & Mauro Gallegati & Lisa Gianmoena & Simone Landini & Joseph E. Stiglitz, 2019. "Mis-measurement of inequality: a critical reflection and new insights," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 14(4), pages 891-921, December.
    5. Ravid, S Abraham, 1999. "Information, Blockbusters, and Stars: A Study of the Film Industry," The Journal of Business, University of Chicago Press, vol. 72(4), pages 463-492, October.
    6. Blair Fix, 2021. "How the rich are different: hierarchical power as the basis of income size and class," Journal of Computational Social Science, Springer, vol. 4(2), pages 403-454, November.
    7. Nitzan, Jonathan, 2001. "Regimes of Differential Accumulation: Mergers, Stagflation and the Logic of Globalization," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 8(2), pages 226-274.
    8. Nitzan, Jonathan & Bichler, Shimshon, 2009. "Capital as Power. A Study of Order and Creorder," EconStor Books, ZBW - Leibniz Information Centre for Economics, number 157973.
    9. Fleck, Robert K. & Hanssen, F. Andrew, 2016. "Persistence and change in age-specific gender gaps: Hollywood actors from the silent era onward," International Review of Law and Economics, Elsevier, vol. 48(C), pages 36-49.
    10. Paul M. Sweezy, 1939. "Demand Under Conditions of Oligopoly," Journal of Political Economy, University of Chicago Press, vol. 47(4), pages 568-568.
    11. McMahon, James, 2013. "The Rise of a Confident Hollywood: Risk and the Capitalization of Cinema," EconStor Preprints 157854, ZBW - Leibniz Information Centre for Economics.
    12. Vogel,Harold L., 2020. "Entertainment Industry Economics," Cambridge Books, Cambridge University Press, number 9781108493086, September.
    13. McMahon, James, 2013. "The Rise of a Confident Hollywood: Risk and the Capitalization of Cinema," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 1(1), pages 23-40.
    14. McMahon, James, 2015. "Risk and Capitalist Power: Conceptual Tools for Studying the Political Economy of Hollywood," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 3(2), pages 28-54.
    15. Sunny Y. Shin & Jordi McKenzie, 2019. "Asymmetric cultural discounting and pattern of trade in cultural products: Empirical evidence in motion pictures," The World Economy, Wiley Blackwell, vol. 42(11), pages 3350-3367, November.
    16. Allègre Hadida, 2010. "Commercial success and artistic recognition of motion picture projects," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 34(1), pages 45-80, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. McMahon, James, 2022. "The Political Economy of Hollywood: Capitalist Power and Cultural Production; introduction," EconStor Open Access Book Chapters, in: The Political Economy of Hollywood: Capitalist Power and Cultural Production, pages 1-10, ZBW - Leibniz Information Centre for Economics.
    2. McMahon, James, 2015. "What Makes Hollywood Run? Capitalist Power, Risk and the Control of Social Creativity," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 157994, September.
    3. McMahon, James, 2018. "Is Hollywood a Risky Business? A Political Economic Analysis of Risk and Creativity," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue Online Fi, pages 1-24.
    4. McMahon, James, 2015. "Risk and Capitalist Power: Conceptual Tools for Studying the Political Economy of Hollywood," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 3(2), pages 28-54.
    5. Bichler, Shimshon & Nitzan, Jonathan, 2020. "Growing through Sabotage: Energizing Hierarchical Power," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 1(5), pages 1-78.
    6. Blair Fix, 2021. "How the rich are different: hierarchical power as the basis of income size and class," Journal of Computational Social Science, Springer, vol. 4(2), pages 403-454, November.
    7. Hager, Sandy Brian, 2013. "Public Debt, Ownership and Power: The Political Economy of Distribution and Redistribution," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 157991, September.
    8. Fix, Blair, 2021. "The Rise of Human Capital Theory," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue 95, pages 29-41.
    9. Nitzan, Jonathan & Bichler, Shimshon, 2018. "The CasP Project: Past, Present, Future," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 1(3), pages 1-39.
    10. Fix, Blair, 2021. "Living the good life in a non-growth world: Investigating the role of hierarchy," SocArXiv wem9p, Center for Open Science.
    11. Fix, Blair, 2021. "Living the Good Life in a Non-Growth World. Investigating the Role of Hierarchy," Working Papers on Capital as Power 2021/02, Capital As Power - Toward a New Cosmology of Capitalism.
    12. Baines, Joseph, 2014. "Wal-Mart's Power Trajectory: A Contribution to the Political Economy of the Firm," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 1(1), pages 79-109.
    13. Nitzan, Jonathan & Bichler, Shimshon, 2014. "Can Capitalists Afford Recovery? Three Views on Economic Policy in Times of Crisis," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 1(1), pages 110-155.
    14. Bichler, Shimshon & Nitzan, Jonathan, 2015. "Still About Oil?," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue 70, pages 49-79.
    15. Fix, Blair, 2020. "Economic Development and the Death of the Free Market," SocArXiv g86am, Center for Open Science.
    16. Bichler, Shimshon & Nitzan, Jonathan, 2013. "Can Capitalists Afford Recovery? Economic Policy When Capital is Power," Working Papers on Capital as Power 2013/01, Capital As Power - Toward a New Cosmology of Capitalism.
    17. Bichler, Shimshon & Nitzan, Jonathan, 2023. "The Capital As Power Approach. An Invited-then-Rejected Interview with Shimshon Bichler and Jonathan Nitzan," Review of Capital as Power, Capital As Power - Toward a New Cosmology of Capitalism, vol. 2(2), pages 96-174.
    18. Fix, Blair, 2018. "Capitalist income and hierarchical power: A gradient hypothesis," Working Papers on Capital as Power 2018/06, Capital As Power - Toward a New Cosmology of Capitalism.
    19. Baines, Joseph, 2015. "Price and Income Dynamics in the Agri-Food System: A Disaggregate Perspective," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 157992, September.
    20. Cochrane, David Troy, 2015. "What’s Love Got to Do with It? Diamonds and the Accumulation of De Beers, 1935-55," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 157995, September.

    More about this item

    Keywords

    culture; Hollywood; inequality; risk;
    All these keywords.

    JEL classification:

    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • Z1 - Other Special Topics - - Cultural Economics

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:capwps:202201. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: http://www.capitalaspower.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.