Media Amnesia by Laura Basu

Author:Laura Basu
Language: eng
Format: epub
Publisher: Book Network Int'l Limited trading as NBN International (NBNi)

CONCLUSION

Despite optimistic official growth figures and forecasts, the Great Recession has been followed by ‘the longest recovery on record’ in the UK, and the world’s economic problems are far from being resolved. Media amnesia has helped legitimise policies that further empower transnational corporations over anything else, policies promoting the form of global capitalism that produced the crisis in the first place. In opposition to austerity, deregulation, privatisation and tax cuts for the richest, social-democratic Keynesianism has come to represent the other side of the public debate. But neither approach addresses the most critical issues to do with the environment and the global division of labour. Paradoxically, in reaction against the harm done by neoliberal globalisation to workers of rich countries, many have put their faith in those who would empower those corporations even further. In continental Europe, as we will see, the crisis there has spurred a kind of ‘nationalist social-democracy’, arguably assisted by the media as they rewrite accounts of the eurozone crisis.

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