[Rezension] Economy as Communication: Communication as Economy—Call-Out Economics, Macromarketing and Communication Economics from the Point of View of Systems Theory

S ump , Ma cus
Book Re iew — Published Ve sion
[Rezension] Economy as Communica ion: Communica ion as
Economy—Call-Ou Economics, Mac oma ke ing and Communica ion
Economics om he Poin o View o Sys ems Theo y
Co po a e Repu a ion Re iew
P o ided in Coope a ion wi h:
Sp inge Na u e
Sugges ed Ci a ion: S ump , Ma cus (2024) : [Rezension] Economy as Communica ion:
Communica ion as Economy—Call-Ou Economics, Mac oma ke ing and Communica ion Economics
om he Poin o View o Sys ems Theo y, Co po a e Repu a ion Re iew, ISSN 1479-1889, Palg a e
Macmillan, London, Vol. 28, Iss. 3, pp. 201-203,
h ps://doi.o g/10.1057/s41299-024-00191-5
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BOOK REVIEWS
Economy asCommunica ion: Communica ion asEconomy—Call‑Ou
Economics, Mac oma ke ing andCommunica ion Economics
om hePoin o View o Sys ems Theo y
Ma cusS ump 1
Published online: 10 June 2024
© The Au ho (s) 2024
In o ma ion socie y, knowledge age, a en ion economy, ep-
u a ion economy. The e a e se e al social-economic ends
which indica e a undamen al change ega ding he e olu ion
o ma ke s: he u n om analy ics and a ional choice o
communica ions and ela ional choice and communica ions.
The book “economy as communica ion—communica ion as
economy” by Jan Lies, a Ge man economis , desc ibes he
communica i e change in he economy. Fo his pu pose, he
ole o communica ion in companies and ma ke s is exam-
ined. Companies, ma ke s and hei en i onmen a e iewed
as social (sub)sys ems. The media logic ha shapes eco-
nomic socie y has changed and led o he call-ou economy:
The al e ed media logic s ems om he ans o ma ion o
media ecipien s. They ha e e ol ed om passi e o ac i e
media p oduce s. Ac i e media p oduce s can easily posi ion
hemsel es as social sys ems h ough social media, explain-
ing hei powe ha leads o he call-ou economy. Call-ou
economics desc ibes he impo ance o public speak-ups o
ma ke s and managemen . Social media sha es, likes and
pos s a e he mos popula examples o speak-ups. Call-ou s
a e designed o go i al and, hus, becoming na a i es. They
a e app op ia e o impac ma ke s. Na a i es a e empo a y
ma ke o de s. Digi al c ises igge ed by dissa is ied cus-
ome s o ashions d i en by ans o a b and a e examples
ha can be aced back o speak-ups and ha e de eloped
in o ma ke -de ining na a i es. Call-ou s a e examples o
digi ized s akeholde claims in he managemen -and-ma ke -
e a 4.0.
A e he in oduc o y chap e 1, he communica i e
u na ound in managemen is de eloped in chap e 2. The
discussion ini ially u ns o he con e ging logic wi hin
economic socie ies wi h hei ma ke s, companies, manage-
men , media, and b ands. Logics a e “doc ines o hough ”
which shape he amewo k o pa e ns o hough and hus
explain undamen al unc ions, p ocesses, me hods and pa a-
digms. Economy e e s o planned ac ion in o de o ob ain
goods in he ace o sca ce esou ces. To do his, economic
socie ies o ganize hemsel es wi h he help o companies,
households and ma ke s o coo dina e supply and demand.
Managemen logics explain how co po a ions con ibu e
o business, i.e. alue c ea ion. Ma ke s a e social sys ems
aiming o o ganize exchange ne wo ks be ween buye s and
selle s in o de o enable p oduc and/o se ice ansac ions.
The logic o communica ion is o c ea e meaning, wi hin
economics and managemen especially o shape and impac
(goods, se ices, labou ) ma ke s. Media logic is de ined as
a o m o communica ion, and he p ocess h ough which
media ansmi and communica e in o ma ion. Media logics
changed om passi e media consume s o in e ac i e p o-
duse s. B anding logics ocus shi s om di e en ia ion in
* Ma cus S ump
ma cus.s ump @ om.de
1 FOM Uni e si y o Applied Science, F anklins aße 52,
60486F ank u amMain, Ge many
202 M.S ump
o de o dis inc om compe i o s o meaning which a ac s
cus ome s.
Chap e 3 cha ac e izes managemen as communica-
ion. I e aces he inc easingly communica i e cha ac e
o managemen . Managemen has e ol ed and gone h ough
di e en phases: Managemen 1.0 o 4.0. Managemen has
always depended on in o ma ion o gene a e decision-mak-
ing knowledge. Bu communica ion in managemen is mo e:
managemen as dialogue is pa icipa i e managemen . I is
a s a egy o aes he ic managemen o en o ce decisions
by a oiding dys unc ional call-ou s om employees and
cus ome s. Hence, managemen becomes mo e and mo e
communica ion. The ole o managemen communica ion
e ol ed om “p o iding in o ma ion o di ec ” (manage-
men 1.0) o “de eloping mu ual alues” (managemen 4.0).
This de elopmen makes managemen i sel become dialogic
media compe encies.
Chap e 4 concep ualizes he cha ac e o co po a ions as
communica ing social sys ems. Co po a ions consis o and
a e d i en by communica ion (o ganiza ional communica-
ion) aimed a ealizing ma ke exchange. A p e equisi e o
his is alue c ea ion. Value c ea ion has always been he
co e unc ion o co po a ions. Bu he pa e n o alue c ea-
ion changed. I is used o be an au onomous p ocess wi hin
co po a ions. The idea was o o ganize compe i i e ad an-
ages in e nally o sa is y cus ome needs. Today, his p o-
cess depends on ongoing social-economic in e ac ion in e -
nally and ex e nally. Consequen ly, co po a ions a e o ced
o dynamize hei in e nal and ex e nal communica ion o
synch onize hei alues wi h cus ome s and s akeholde s
beyond he ma ke s. Today, companies a e alue c ea ion
sys ems ha ex end beyond o mal co po a e bounda ies.
The bounda ies o social sys ems a e shaped by mu ually
sha ed alues. Value c ea ion in social sys ems is luid
because i is knowledge-dependen and ele an knowledge
also esides wi h he alue c ea ion pa ne s. No only alue
c ea ion pa ne s a e cus ome s, bu also b and communi-
ies ha o ganize hemsel es dynamically in social media
and, hus, become alue d i e s. The socio ole o b ands as
alue c ea ion pa ne s will la e lead o he ole o b ands as
social-economic changing ins ances. They ope a e as a kind
o change agen when hey a e concep ualized in chap e 7
as a lynch pin be ween companies and he economic socie y.
Chap e 5 ans e s he iew o “o ganisa ions as com-
munica ions” o ma ke s. I e aces he shi in he unde -
s anding o ma ke s as e en s ( ocus on ma ke clea ing) o
a mul i-complex social sys em o communica ions ( ocus
on ma ke ini ia ion). This leads o a his o y o ma ion in
he ma ke phases “1.0” o “4.0”. Ma ke 1.0 akes up he
classic ma ke desc ip ion. The classic ma ke pa icipan
is pe ec ly in o med, decides a ionally, and ope a es com-
ple ely wi hou emo ions. Ma ke exchange is supposed o
be an e en and ou come o indi idual and a ional choice.
I communica ion managemen in ends o impac ma ke s,
e.g. wi h b and communica ion, o inc ease ma ke success,
he adi ional ma ke iew deba es communica ion which is
al eady done. Communica ion is always al eady done, as he
model man o classical economics “homo oeconomicus” is
conside ed o be pe ec ly in o med. B anding is, he e o e,
no necessa y. Wi h he New Ins i u ional Economics, which
ques ions he “in isible hand”, he (non-)eme gence o eco-
nomically ele an ins i u ions such as ma ke s o companies
came in o ocus om a ound he 1940s. Ma ke 2.0 e ol ed.
T ansac ion cos s play a cen al ole he e. These include,
o example, he cos s o sea ching o in o ma ion, which
can a ise om asymme ic in o ma ion dis ibu ion be ween
he supply and demand sides. Thus, in o ma ion economics
eme ged and he ise o he impo ance o communica ion
becomes appa en . Ma ke 3.0 is discussed ac oss di e en
academic ield, e.g. wi hin economy, sociology o cul u al
science. Ma ke s a e no isola ed ading places, bu in e -
wine wi h o he ins ances o a socie y. Assump ions abou
he unc ioning o ma ke s oday a e being expanded and
made mo e complex. Ma ke s a e now seen as communica-
i e and cul u al en i ies, p ocesses and socio-digi al ne -
wo ks. The iew on ma ke s shi ed om e icien ma ke
ideas and ma ke anomalies o beha iou al economics. Bo h
a e d i en by communica ions. Ma ke s ha e comple ed he
“communica i e u n”, an applica ion o he “cul u al u n”.
Ma ke s 4.0 a e highly socio-economic social communica-
ion ne wo ks d i en by digi iza ion. Examples a e mani old:
“Ho opics” such as g eenwashing a e examples o ma ke s
as communica ion abou p oduc ion. Fashions a e ma ke s
as communica ion abou p oduc s o se ices. Aes he ics a e
ma ke s as communica ion abou consump ion. Such exam-
ples show ha ma ke s oday a e na a i es. This subs an i-
a es he signi icance o he call-ou economy, explaining he
sub i le o he book. Call-ou s a e public speak-ups aiming
o become na a i es. Na a i es a e able o shape empo a y
ma ke o de , e.g. ashions, umou s o ma ke i uals.
Chap e 6 u ns he heme o chap e 5 (ma ke s as com-
munica ion) upside-down (communica ions as ma ke s):
News, media, e en s, agencies and communica ion de ices a e
selec ed elemen s o communica ion ma ke s. The media ma -
ke s a e, he e o e, much mo e han income om in o ma ion
o elec onic de ices. They a e also pe mea ed by he esul s o
co po a e communica ion: ad e ising, p oduc placemen and
con en ma ke ing as b anded con en and/o o ganic con en as
i al na a i es in social media cha ac e ize he communica-
ion p ocesses o (digi al) socio-economic socie y. They a e
des ined o c ea e new ma ke s o businesses. These ma ke s
a e communica ion-based. Ma ke s a e communica ion and
communica ion ep esen s li ing ma ke s.
Chap e 7 concep ualizes b ands as a social-economic lynch
pin be ween co po a ions and cus ome s. Powe ul b ands a e
no s ong because hey look good, ha e a nice logo o un
203
Economy asCommunica ion: Communica ion asEconomy—Call‑Ou Economics, Mac oma ke ing and…
c ea i e campaigns. Ra he , powe ul b ands a e d i en by
hei communi y. Tha means b ands a e co po a e, cus ome
and social d i en i jus he con empo a y meaning o pu pose
d i en o sus ainable b ands is ega ded. Tha means b ands
do no con ol he cus ome bu depend on hem. B ands in a
wo ld o social sys ems a e pa adoxical. They a e agile and
s able a he same ime. They a e agile ins i u ions when hey
p o ide dynamic co po a e compe ency by inc easing oppo -
uni ies o obse e he cu en ly alid s akeholde alues and
s abilize he ela ions wi h b and communi ies. This mecha-
nism se es o s abilize as hey o ganize o de by shaping he
meaning, especially no only b and meaning in he case o
b and communi ies, bu also socio-economic cul u al mean-
ing in gene al. B ands can e ol e om planned adema ks o
image building o social sys ems. They begin o come o li e
when in e es ed pa ies, ans o c i ics become in ol ed o
o agains a b and. B ands become applied mac oma ke ing.
Fo he alue synch oniza ion be ween companies and hei
s akeholde s, mac oma ke ing is needed as a social ma ke ing
compe ence.
The book closes wi h chap e 8: S akeholde claims, ma -
ke na a i es, ex e nali ies o p oduc ion and consump ion,
bullish ma ke s, ake news, agenda se ing and ashions wi h
he “in” and “ou ” o b ands: communica ion shapes business,
d i en by call-ou s—all o hese examples show ha business
is communica ion and communica ion is business. The call-
ou economy ep esen s his e olu ion. Call-ou s ep esen he
ising oices o employees, cus ome s and o he s akehold-
e s exp essed and ein o ced by (social) media. Call-ou s a e
a emp s o change ele an knowledge wi hin ma ke socie ies:
Call-ou s a e a me hod o ans o ming indi idual communica-
ion in o ma ke shaping na a i es. P econdi ion o his is he
epu a ion o he ma ke pa icipan s. Ma ke s become a epu-
a ion economy as con e sa ions depend on epu a ion. Busi-
ness socie y has long since adap ed o dealing wi h call-ou s:
wi h in e ac i e b and leade ship. I companies, he ma ke s
and hei en i onmen consis o social ne wo ks and hese
ne wo ks de elop and wo k on he basis o common alues,
hen communica ion is cu en ly he d i ing o ce o economic
socie y. I shapes managemen , i s companies and ma ke s.
Managemen 1.0 has e ol ed in o managemen 4.0. Success ul
b ands s and o he social compe ence o co po a e manage-
men . The p e equisi e o his is ha companies unde s and
b ands no only as a eaching pla o m o b and alues (image
building), bu also as lea ning pla o ms o cons an ly in eg a e
new equi emen s in o b and managemen (b ands as join en-
u es). Thus, b anding means applied mac oma ke ing.
In summa y, his book p o ides a concep ual amewo k
o Shille 's “Na a i e Economics”, by posi ing call-ou s as
ini ia ing mechanisms aimed a becoming ma ke -dominan
o de s. This ans o ms mac oma ke ing in o a p ac ical
managemen compe ency, as b ands e ol e in o alue-gen-
e a ing join en u es.
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