jm + insiders   1

The Why
How the Irish media are partly to blame for the catastrophic property bubble, from a paper entitled _The Role Of The Media In Propping Up Ireland’s Housing Bubble_, by Dr Julien Mercille, in the _Social Europe Journal_:
“The overall argument is that the Irish media are part and parcel of the political and corporate establishment, and as such the news they convey tend to reflect those sectors’ interests and views. In particular, the Celtic Tiger years involved the financialisation of the economy and a large property bubble, all of it wrapped in an implicit neoliberal ideology. The media, embedded within this particular political economy and itself a constitutive element of it, thus mostly presented stories sustaining it. In particular, news organisations acquired direct stakes in an inflated real estate market by purchasing property websites and receiving vital advertising revenue from the real estate sector. Moreover, a number of their board members were current or former high officials in the finance industry and government, including banks deeply involved in the bubble’s expansion."
economics  irish-times  ireland  newspapers  media  elite  insiders  bubble  property-bubble  property  celtic-tiger  papers  news  bias 
april 2013 by jm

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