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Media Amnesia: Rewriting The Economic Crisis

Dwayne Mitchell

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The 2008 financial crisis was the worst economic downturn since the Great Depression. It caused a global recession, widespread job losses, and a sharp decline in the value of assets. The crisis also had a profound impact on the media, which played a significant role in shaping public understanding of the events that led to the collapse.

Media Amnesia: Rewriting the Economic Crisis

by Cynthia Crosson-Tower

5 out of 5

Language	:	English
File size	:	1996 KB
Text-to-Speech	:	Enabled
Enhanced typesetting	:	Enabled
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Print length	:	288 pages
Screen Reader	:	Supported

In the years since the crisis, there has been a growing sense of "media amnesia." This term refers to the tendency of the media to forget the lessons of the past and to repeat the same mistakes over and over again. This amnesia is particularly evident in the way that the media has covered the recent economic recovery. The media has largely ignored the fact that the recovery has been uneven, with many people still struggling to find work and make ends meet. The media has also failed to hold the financial industry accountable for its role in the crisis.

The book "Media Amnesia: Rewriting the Economic Crisis" challenges this narrative. The book argues that the media's amnesia is not simply a matter of forgetting. It is a deliberate attempt to rewrite the history of the crisis and to absolve the financial industry of its responsibility. The book shows how the media has used a variety of techniques to achieve this goal, including:

Framing the crisis as a "natural disaster": This framing suggests that the crisis was an unavoidable event that could not have been prevented. It ignores the role of human greed and recklessness in causing the collapse.
Blaming the victims: The media has often blamed the victims of the crisis for their own misfortune. This is especially true of homeowners who lost their homes to foreclosure. The media has portrayed these homeowners as irresponsible borrowers who deserved to lose their homes.
Promoting the myth of the "too big to fail" banks: The media has repeatedly promoted the myth that the "too big to fail" banks are too important to the economy to be allowed to fail. This myth has prevented the government from breaking up these banks and has made it difficult to hold them accountable for their actions.

The book "Media Amnesia" is a wake-up call for the media. It is a reminder that the media has a responsibility to tell the truth and to hold the powerful accountable. The book also provides a roadmap for how the media can overcome its amnesia and help to prevent future economic crises.

The dangers of collective amnesia

Collective amnesia is a dangerous phenomenon. It can lead to a distorted understanding of the past and to a repetition of the same mistakes. In the case of the economic crisis, collective amnesia has prevented us from learning the lessons of the past and from taking steps to prevent future crises. The book "Media Amnesia" is a valuable contribution to the fight against collective amnesia. It provides a clear-eyed look at the role of the media in the economic crisis and it offers a roadmap for how we can overcome our amnesia and create a more just and equitable economy.

Call to action

I urge you to read "Media Amnesia." It is an important book that has the potential to change the way we think about the economic crisis and its aftermath. The book is available in bookstores and online. You can also find more information about the book at the author's website.

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Media Amnesia: Rewriting the Economic Crisis

by Cynthia Crosson-Tower

5 out of 5