In the past, I would have agreed with this. However, since the start of the pandemic, news corporations have treated their reputation as something to spend, not to save.
Meanwhile, as sources of facts they are still pretty great. But when the slightest subjectivity comes in, like today’s “rally” in the stock market where “investors returned to high-risk assets”, they are so misleading that it’s basically lying. Furthermore, lies by omission are prevalent in most domains and they create a lopsided worldview in all domains.
Their editorial boards are basically executives with an extra emphasis on brand reputation, which is central to the news business model (and is increasingly less central, as they have to compete with blogs, fake news, social media, and digital entertainment in general).
News corporations provably have an imperative to reduce panic during a recession, although I don’t know the specifics of where the momentum for this comes from. This means that the deception is especially acute during this time; hence the meme.
News corporations provably have an imperative to reduce panic during a recession, although I don’t know the specifics of where the momentum for this comes from.
Do they, provably? Or, to put it differently: Is having an imperative to reduce panic the only plausible explanation for headlines like this?
My primary model of news organizations’ goals is that they are trying to maximize attention, ideally (but not always) without being factually wrong. I think the WSJ headline is compatible with those goals.
For me the reporting about daily fluctuations in the financial press is mostly a source for amusement, not to be taking seriously (on 99% of the days, of course).
In the past, I would have agreed with this. However, since the start of the pandemic, news corporations have treated their reputation as something to spend, not to save.
Meanwhile, as sources of facts they are still pretty great. But when the slightest subjectivity comes in, like today’s “rally” in the stock market where “investors returned to high-risk assets”, they are so misleading that it’s basically lying. Furthermore, lies by omission are prevalent in most domains and they create a lopsided worldview in all domains.
Their editorial boards are basically executives with an extra emphasis on brand reputation, which is central to the news business model (and is increasingly less central, as they have to compete with blogs, fake news, social media, and digital entertainment in general).
News corporations provably have an imperative to reduce panic during a recession, although I don’t know the specifics of where the momentum for this comes from. This means that the deception is especially acute during this time; hence the meme.
Do they, provably? Or, to put it differently: Is having an imperative to reduce panic the only plausible explanation for headlines like this?
My primary model of news organizations’ goals is that they are trying to maximize attention, ideally (but not always) without being factually wrong. I think the WSJ headline is compatible with those goals.
For me the reporting about daily fluctuations in the financial press is mostly a source for amusement, not to be taking seriously (on 99% of the days, of course).