Challenging economic journalism : covering business and politics in an age of uncertainty / Henrik Müller.
Müller, Henrik.
2023
PN4784.C7 M85 2023
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Title Challenging economic journalism : covering business and politics in an age of uncertainty / Henrik Müller.
Author Müller, Henrik.
ISBN 9783031310300 electronic book
3031310306 electronic book
3031310292
9783031310294
DOI https://doi.org/10.1007/978-3-031-31030-0
Published Cham, Switzerland : Palgrave Macmillan, [2023]
Language English
Description 1 online resource
Item Number 10.1007/978-3-031-31030-0 doi
Call Number PN4784.C7 M85 2023
Dewey Decimal Classification 070.44965
Summary This book, inspired partly by journalism's failure to raise early warning flags in the run up to financial crises and by the rise of (economic) populism in recent years, puts forward a framework for economic journalism. It argues that that independent quality economic journalism is essential to the functioning of both the market and democracy but is under threat, and explores questions raised by the decline of media trust: what is the value of economic journalism? And how can journalists change their practices to counter this decline? The book takes a global approach with one chapter focusing on European integration and concludes with an outlook on the future of economic journalism, and the financing of journalism more widely. Henrik Mller is Professor and Chair of Economic Policy Journalism at TU Dortmund University, Germany.
Bibliography, etc. Note Includes bibliographical references and index.
Access Note Access limited to authorized users.
Source of Description Description based on online resource; title from digital title page (viewed on July 10, 2023).
Available in Other Form ebook version : 9783031310300
Print version: 9783031310294
CHALLENGING ECONOMIC JOURNALISM.
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Intro
Contents
About the Author
List of Figures
List of Tables
Chapter 1: The Loss of Certainty: Journalism vs. the Economy
1.1 On Truth, Reality and Bullshit
1.2 Of Minds and Markets
1.3 Problems, Priorities and Uncertainty
1.4 Overview of the Book
References
Chapter 2: Peculiar Products: The Business of Economic News
2.1 An Executive Must-Have: The Evolution of News
Newspapers in the Dutch Golden Age
England and the Continent
Branching Out from Business
2.2 Why Bother? Properties of News as a Product
Positive Externalities

Cognitive Disadvantages
Asymmetric Information
Economies of Scale (and Scope)
Digitalization and Its Discontents
2.3 Business First, Politics Fast: On the Economics of Economic News
A Taxonomy of Economic Journalism
Market Size and Readers' Motivations
Bundling and Competition Laws
"Alternative" News Media
2.4 Solutions: Tackling Quality Uncertainty and the Erosion of Trust
Branding
Media Accountability
Professionalization and Licensing Practices
2.5 Conclusion
Notes
References
Chapter 3: Good, Bad or Ugly: On the Quality of Economic Journalism

3.1 Basic Quality Requirements
3.2 The Challenge of De-materialization: The Complex Nature of the Economy
Intangibles
Complex Trade-Offs
News Values
Attention Cycles
Agenda Setting
3.3 The Challenge of Forward-Orientation: Economic Journalism's Watchdog Role
Risks and Side-Effects
The Financial Crisis and the Euro Crisis
3.4 The Challenge of Voice: Why Not All Interests Are Equally Loud
Rent Seeking
Collective Action
Agenda Setting and Social Media
3.5 Who's Got the Power? Independence Versus Influence
Independence
Hierarchies of Influences

"Radical" Critique
Transparency and Accountability
Independent Framing and Editorial Leaning
3.6 The ESSF Formula: News Values for Economic Journalism
Values and Conflicts
3.7 Conclusion
Notes
References
Chapter 4: Making Sense: Narratives, Journalism and the Economy
4.1 Infectious Stories and Their Effects: Narrative Economics
4.2 Beliefs and Convictions: Types of Social Narratives
Dominant vs. Hegemonic Narratives
Meta-Narratives
Economic Policy Narratives
Corporate Narratives
4.3 Gauging the Future: Narratives and Expectations

"Radical Uncertainty"
"Rational Expectations" as Narrative-Based Social Conventions
4.4 Blind Spots and Fads: The Problems with Narratives
Outdated Facts
Narrow Vision
False Causation
Intriguing Persuasion
4.5 Getting Real: Narratives and Journalism
Narrative Formation-Bottom-Up, Top-Down, or Mediated?
Journalists as Narrative Economists
4.6 Leaning Against the Wind: Journalism Versus Common Beliefs
Reining in Exuberance
Escaping Depression
4.7 Conclusion
Notes
References

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