Jameson deems postmodernism to be 'the sheer consumption of commodity as a process', capitalism and postmodernity play into each others hands, with felluga stating that "post modernists question any 'truth' outside of culture" he also simplifies the writings of Jameson & gives an answer as to why this happens, " postmodernism has lost a sense of any distinction between the real and culture."
Parody, according to jameson has been replaced by pastiche in the postmodern age, due to the quality of reflexivity, many of the parodies that once would have had a political edge to them have been replicated so much so that they become devoid of any real meaning or hold little power of social critique - any real political edge is worn away. One could say that due to this ideology of consumption and commodification that this is the postmodernist affect on any real attempt at an original idea of parody - not to say that pastiche is of postmodernism but more a symptom of it and late capitalism.
Hutcheon, contrary to Jameson belives parody is central to postmodernism and that postmodernism by its very nature is paradoxical, "for postmodernism signals its contradictory dependence upon and independence from the modernism the both historically preceded it and literally made it possible."
A definition of parody/pastiche could be drawn out by comparing and contrasting Jameson's pastiche with hutcheon's parody, I would be in favour more so of jameson's view to defining that a parody would have qualities of mimicry but then also in the same vein make fun of itself - pastiche however is in essence a parody but one by which has lost all meaning due to its audience not being able to recognise the cultural/historical significance of that it is trying to parody - this could be due to commodification of certain styles/genres from the past.
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