Thursday June 17, 2010
Brothers-In-Arms: capitalism and corporate journalism
David Edwards
The Comment Factory
An essential role of corporate journalism is to shore up public confidence in an unjust, crisis-riven financial and economic system. Although plenty of gloom and doom is permitted, especially in the face of obvious crisis, the legitimacy of the system is rarely questioned.
For example, a recent Sunday Times article cited approvingly the views of Jim O’Neill, chief economist at Goldman Sachs. In a note to clients, titled ‘Why the World is Better Than You Think’, O’Neill tried to allay fears that the collapse of financial markets had made the world seem a “scary place”. It is not so bad; indeed, “global recovery” was underway.
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