Innocence lost
The innocence of business journalism is long gone.
The innocence of business journalism is long gone, long gone are the days when the NZZ was the sole court reporter from the carpet floors and the few other journalists submissively adhered to the embargo periods and wishes of strictly regulated business communication. Campaign and thesis journalism are just as much the order of the day as the personification of companies. CEOs take part in the election for the most beautiful manager (Cash). The fact that more and more journalists are chasing after the topic of business these days, who cannot tell the difference between
Not understanding macro- and microeconomics exacerbates the problem - the seriousness and credibility of a profession are put to the test.
This is leading to a more tense climate between journalism and business. Mutual accusations are piling up and so-called media victims are becoming more numerous. At the same time, criticism of companies that are unable to communicate and want to instrumentalize the media is also increasing - according to the findings of a panel discussion held by the International Advertising Association (see page 16).
The fate of business journalism is more directly linked to economic developments than any other media sector. This was drastically demonstrated by the end of the stock market hype: With the crash of the New Economy, business newspapers were hit by a cold shower - the loss of confidence in companies and their leaders resulted in a loss of trust in business journalism. Business newspapers and magazines paid for this loss of trust with falling circulations.
Despite all this, economic reporting has become more diverse and richer in perspective - making topics that are often difficult to understand attractive and comprehensible for broad sections of the population.
Daniel Schifferle, Editor
Not understanding macro- and microeconomics exacerbates the problem - the seriousness and credibility of a profession are put to the test.
This is leading to a more tense climate between journalism and business. Mutual accusations are piling up and so-called media victims are becoming more numerous. At the same time, criticism of companies that are unable to communicate and want to instrumentalize the media is also increasing - according to the findings of a panel discussion held by the International Advertising Association (see page 16).
The fate of business journalism is more directly linked to economic developments than any other media sector. This was drastically demonstrated by the end of the stock market hype: With the crash of the New Economy, business newspapers were hit by a cold shower - the loss of confidence in companies and their leaders resulted in a loss of trust in business journalism. Business newspapers and magazines paid for this loss of trust with falling circulations.
Despite all this, economic reporting has become more diverse and richer in perspective - making topics that are often difficult to understand attractive and comprehensible for broad sections of the population.
Daniel Schifferle, Editor
