Several weeks ago the Financial Times asked me to write an analysis piece on why most business journalists failed to see the looming economic crisis. Bonus-bloated bankers and docile regulators have received much of the blame for the financial collapse.
But what about the media? Business journalists largely failed to sound an alarm bell about the catastrophic consequences of the winner-take-all economy that produced characters like Bernie Madoff. Since my co-author Soumitra and I had written about newspaper journalism in Throwing Sheep in the Boardroom, this was an obvious subject.
Here is the article published on the FT.com website. It has been noted, correctly, that our reference to a CNBC business show called “Money Honey” is incorrect because that title is actually the nickname of the show’s host, Maria Bartiromo, not the name of the show itself.
For that correction, see this blog at the University of North Carolina’s Journalism School. The fact that “Money Honey” describes the high-profile host of the CNBC show actually reinforces our point even more, so we gratefully embrace the correction.
Here is a link to the original story on the FT.com site:
http://www.ft.com/cms/s/0/93b6227c-ee26-11dd-b791-0000779fd2ac,dwp_uuid=af1c5354-e0d1-11dd-b0e8-000077b07658.html
