March 19, 2009 § Leave a comment
Hypothesis: news always fit the market realities, including the role of the nation state and its realities. As long as trade, professions, and managerial tasks were increasing faster than the elites, there was lots of interest in news, and incomes to pay for the products.
What we have been experiencing is a narrowing elite, drop in the middle class than can read and buy, and the collapse of the press is inevitable in this dynamic. or in other words, what the press writes for the most part serves a narrowing elite and not the expanding disenfranchised. The narroing elite has need for its news, the news that keeps the system rolling, but they are a smaller part of the population. The increasingly larger part, the disinfanchized, have a need for news about their marginalization and how to cope, but they lack coherence and buying power so there is not new press emerging to meet their needs. The implication is that emerging news will replace existing news, and which is the better news is unknown.I think we will see a chaotic turgid kind of news that fits a turbulent incoherent situation, including rumor, fear, demagoguery, misplaced blames and bad analysis. But that may be better than the coherent lying we have been getting. By coherent lying i mean the rise of financial services to 25% of the GDP and financial profit to a level of nearly 50 % of the total profit in the US economy. Along with it wars of distraction, an idiot president whose qualities went unexplored by mainstream press, etc.
We can expect a centralist press than cannot discuss what is really happening, and a chaos press that is constantly threatened at financial and police levels.