OLD Media Moves

Economics journalism from an Indian perspective

December 6, 2005

I found this today on the blog Indus Churning:

“Economic journalism is an island of high wages and returns. It services the interests of the proprietors, not the interests of the millions of investors. It supports globalisation which serves the major economic powers. In the event, this promotes foreign MNCs and the interests of the major economies, which naturally stirs the economic nationalism of the developing countries.
But the fact is: both globalisation and nationalism are inherent in a given situation. There are economic forces which work towards a global economy. This stirs up economic nationalism when national interests are threatened. The efforts should be to arrive at a balance. But that is not what the Indian Press promotes. It promotes globalisation, which is in the interest of the West. In the process, it is promoting the Western way of life. Globalisation cannot resolve religious differences, ethnic conflicts, civilisational differences, economic nationalism and, finally, issues of national security in a world of unipolarity. And, finally, nation states are transforming themselves into knowledge states today. In these circumstances, it will be necessary to put education as the highest priority. But it cannot generate much profit. Where does our Press stand in this context? Will it take the task of educating the reader more seriously? Or will it continue to copy the Western model of development?

You can read the full post here. Does anybody think that the business press in this or other countries promotes the globalization of the economy?

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