| ▲ | bparsons 3 days ago |
| Great example of a golden rule of media commentary; all economic news is bad news. Low unemployment? That's a labour shortage. High GDP growth? The economy is overheating. High rates of foreign investment? We are losing control of our economy. Country experiencing historic levels of prosperity? Wealth is making everyone lazy, fat and unproductive. |
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| ▲ | andsoitis 3 days ago | parent | next [-] |
| Steering an economy (or any organization) is a constant alertness to things that can snowball and undermine good outcomes. So, in a real sense, there’s always something (and more accurately, many things) to fix with complex and dynamic interrelationships that present different gradients of risk at different altitudes and size of economy. |
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| ▲ | 317070 3 days ago | parent | prev [-] |
| I had never realised that. Is there an eponymous law about this? (Or some other kind of reference?) Should I call it Parson's law? |
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| ▲ | Workaccount2 3 days ago | parent | next [-] | | It's just that economies are systems with feedback loops that exist on islands of stability. Like a ball on top of a hill. Its the same thing for your car; any news is bad news, because your car operating as normal is not news, and anything that happens will move your car away from that optimal spot - it's bad news. | | |
| ▲ | 317070 2 days ago | parent [-] | | > It's just that economies are systems with feedback loops that exist on islands of stability. Like a ball on top of a hill. OK, I get that that is indeed what makes these headlines tick, but if we take a step back. That is a ridiculous way of looking at the economy. * historically speaking, there is no stability to be found * I don't see how the poor in the world would support this view that "stability is good" * in fact, I'm sure economists would raise alarms if we would have zero growth for a long time. |
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| ▲ | aspenmayer 3 days ago | parent | prev | next [-] | | https://en.wikipedia.org/wiki/Manufacturing_Consent Specifically, the propaganda model: https://en.wikipedia.org/wiki/Propaganda_model > First presented in their 1988 book Manufacturing Consent: The Political Economy of the Mass Media, the propaganda model views corporate media as businesses interested in the sale of a product—readers and audiences—to other businesses (advertisers) rather than the pursuit of quality journalism in service of the public. Describing the media's "societal purpose", Chomsky writes, "... the study of institutions and how they function must be scrupulously ignored, apart from fringe elements or a relatively obscure scholarly literature". The theory postulates five general classes of "filters" that determine the type of news that is presented in news media. These five classes are: ownership of the medium, the medium's funding sources, sourcing, flak, and anti-communism or "fear ideology". | |
| ▲ | danlugo92 3 days ago | parent | prev [-] | | Can we just call it "news orgs are in bed with elites and want the common folk to be slaves"? |
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