Public failed to respond to warnings from biz media about crisis

The public ignored warnings from the business media about an impending financial crisis, New York Times senior business writer Diana Henriques told a crowd at George Washington University, her alma mater.

Evelyne Freiermuth of the Hachet writes, “One of the factors Henriques cited as possible reasons for the lack of public perception of the worsening economic situation is the ‘paradox of the 24 hour news cycle.’ In the effort to keep audience attention, channels are ‘spending less time on each issue’ which leads people to ‘know less and less about more and more’ different issues, she said.

“Henriques also cited the inability of corporate leaders to communicate their technical knowledge to the general public as a possible reason for the financial downfall. She said it is essential for students to develop their communication skills and ability to explain complex issues clearly and persuasively.”

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