Member-only story

Media Amnesia: Rewriting the Economic Crisis

Brenton Cox

·15.8k Followers· Follow

Published in Cynthia Crosson Tower

6 min read

250 View Claps

21 Respond

Save

Listen

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
Word Wise	:	Enabled
Print length	:	288 pages
Screen Reader	:	Supported

The financial crisis of 2008 was one of the most severe economic crises since the Great Depression. It had a devastating impact on the global economy, leading to widespread job losses, foreclosures, and bankruptcies. Yet, in the years since the crisis, there has been a remarkable lack of attention given to its underlying causes and consequences. This phenomenon, known as "media amnesia," has allowed the crisis to fade from public consciousness and for the lessons it taught to be forgotten.

Media amnesia is a form of collective forgetting that occurs when a significant event or issue is no longer reported on by the media and is gradually erased from public memory. This can be due to a variety of factors, including changes in the news cycle, the emergence of newsworthy events, and the influence of powerful interests. In the case of the 2008 financial crisis, media amnesia has been fueled by a number of factors, including the complexity of the crisis, the lack of clear villains, and the desire to move on from a painful period in history.

The consequences of media amnesia are significant. When a crisis is forgotten, it becomes easier for policymakers to repeat the same mistakes that led to the crisis in the first place. It also makes it more difficult for the public to hold those responsible for the crisis accountable. In the case of the 2008 financial crisis, media amnesia has allowed the financial industry to escape largely unscathed and has contributed to the rise of economic inequality.

There are a number of things that can be done to combat media amnesia. One is to increase public awareness of the crisis and its causes. This can be done through education, media campaigns, and public forums. Another is to support independent journalism that is not beholden to powerful interests. Independent journalists are more likely to investigate complex issues and hold those in power accountable. Finally, it is important to remember the lessons of the crisis and to apply them to future policy decisions.

The 2008 financial crisis was a watershed event that has had a profound impact on the global economy. It is essential that we do not forget the lessons of the crisis and that we work to prevent similar crises from happening in the future. Media amnesia is a serious threat to our ability to learn from the past and to build a more just and equitable future.

Causes of Media Amnesia

There are a number of factors that can contribute to media amnesia. Some of the most common causes include:

Changes in the news cycle: The news cycle is constantly changing, and new stories are constantly emerging. This can make it difficult for the media to keep up with all of the important stories, and it can lead to older stories being forgotten.
The emergence of newsworthy events: When newsworthy events occur, they often push older stories off the front page. This can make it difficult for the media to continue to report on older stories, and it can lead to them being forgotten.
The influence of powerful interests: Powerful interests, such as corporations and governments, can sometimes influence the media to not report on certain stories. This can lead to important stories being forgotten.

Consequences of Media Amnesia

Media amnesia can have a number of negative consequences. Some of the most common consequences include:

It makes it easier for policymakers to repeat the same mistakes. When a crisis is forgotten, it becomes easier for policymakers to repeat the same mistakes that led to the crisis in the first place.
It makes it more difficult for the public to hold those responsible for the crisis accountable. When a crisis is forgotten, it becomes more difficult for the public to hold those responsible for the crisis accountable.
It contributes to the rise of economic inequality. When a crisis is forgotten, it becomes easier for the wealthy and powerful to escape accountability and to continue to accumulate wealth.

How to Combat Media Amnesia

There are a number of things that can be done to combat media amnesia. Some of the most effective strategies include:

Increase public awareness of the crisis and its causes. This can be done through education, media campaigns, and public forums.
Support independent journalism that is not beholden to powerful interests. Independent journalists are more likely to investigate complex issues and hold those in power accountable.
Remember the lessons of the crisis and apply them to future policy decisions. It is important to learn from the mistakes of the past and to apply the lessons we have learned to future policy decisions.

Media amnesia is a serious threat to our ability to learn from the past and to build a more just and equitable future. By taking steps to combat media amnesia, we can help to ensure that the lessons of the 2008 financial crisis are not forgotten and that we do not repeat the same mistakes in the future.

Media Amnesia: Rewriting the Economic Crisis

by Cynthia Crosson-Tower

5 out of 5