Journalism

Feudal Future Podcast: Corruption – An Inside Look at America's Media Agenda

Joel Kotkin and Marshall Toplansky — Mon, 08 Nov 2021 13:04:51 -0500

On this episode of Feudal Future, hosts Joel Kotkin and Marshall Toplansky are joined by Batya Ungar-Sargon, deputy opinion editor of Newsweek, to discuss America's new journalism through digital media.

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Learn about Joel's book, The Coming of Neo-Feudalism.

About our guest:

Batya Ungar-Sargon is the deputy opinion editor of Newsweek. Before that, she was the opinion editor of the Forward, the largest Jewish media outlet in America. She has written for the New York Times, the Washington Post, Foreign Policy, Newsweek, the New York Review of Books Daily, and other publications. She has appeared numerous times on MSNBC, NBC, the Brian Lehrer Show, NPR, and at other media outlets. She holds a PhD from the University of California, Berkeley. Her new book, Bad News: How Woke Media Is Undermining Democracy is available on Amazon. Batya Ungar-Sargon reveals how American journalism underwent a status revolution over the twentieth century―from a blue-collar trade to an elite profession.

About the hosts:

Joel Kotkin is the Roger Hobbs Presidential Fellow in Urban Futures at Chapman University, Executive Director of the Urban Reform Institute, and an internationally-recognized authority on global, economic, political and social trends. His most recent book, The Coming of Neo-Feudalism is now available for order.

Marshall Toplansky is a widely published and award-winning marketing professional and successful entrepreneur. He co-founded KPMG’s data & analytics center of excellence and now teaches and consults corporations on their analytics strategies.

This show is presented by the Chapman Center for Demographics and Policy, which focuses on research and analysis of global, national and regional demographic trends and explores policies that might produce favorable demographic results over time.

The State of Illinois’ Long Term Decline

Tue, 06 Apr 2010 00:21:48 -0400

Barack Obama’s home state is in the news but not for positive reasons. Fitch downgraded Illinois debt. At the end of March, according to the Bond Buyer:

Fitch Ratings late Monday downgraded Illinois’ general obligation rating one notch to A-minus and warned of possible further action by leaving the state’s credit on negative watch ahead of $1.3 billion of short- and long-term GO issuance in three deals over the coming weeks.
Gov. Pat Quinn had hoped that the General Assembly’s passage last week of pension reforms would stave off any negative rating actions and buy the state some additional time to address a nearly $13 billion budget deficit and liquidity crisis in the current legislative session.

Fitch isn’t Illinois’ only problem. The Chicago Tribune wrote a devastating editorial concerning Illinois’ economic performance:

once-thriving Illinois in February had 475,000 fewer jobs than it did in November 2000. Even replacing every one of those jobs wouldn't fix the sorry state of this state: Factoring in population growth over the last decade, Illinois needs 600,000 new jobs just to get the employment level back to where it was. The cumulative cost to Springfield of those lost jobs: $6 billion in tax revenues through fiscal '09 and, barring some miracle, $10 billion through fiscal '11.

Illinois politicians keep trying to blame job losses on the Great Recession. But this is only the latest bad patch in two decades during which Illinois has lagged the nation at growing jobs. Geoffrey Hewings, head of the U. of I.'s Regional Economics Applications Laboratory, says something else has to explain why Illinois unemployment keeps running well above the national rate: "Our economy looks like the U.S. economy" in terms of its blend of manufacturing, service and other sectors. "Yet since 1990, we've underperformed the U.S. in job creation."

In fact, for the decade before this recession began, other researchers have pegged Illinois' job creation rate at 48th in the U.S., ahead of moribund Ohio and Michigan. Can't blame recession for that.

Illinois lawmakers spent much of the last 20 years treating private-sector employers as if they were stupid — unable to understand that they and their workers eventually would have to pay for too much state spending, borrowing and promises of future obligations — none more egregious than the now severely underfunded retirement benefits for public employees.

This kind of editorial might scare away future business expansion in Illinois. It wasn’t easy for the Tribune to write this one because it’s so negative that it even might scare advertisers away. But, the truth can’t be ignored much longer. Special interest groups are thriving, but taxpayers are not. The long time Illinois Speaker of House is more responsible than any individual for Illinois’ persistent financial problems. Illinois declines, but Madigan’s property tax appeals law firm thrives.

Business Journalists Blew the Story on the Economy

Ian Lausa — Sun, 15 Feb 2009 16:06:26 -0500

The business sections of newspapers have become doomsayers for the nation. Sensationalistic journalism decries of the failings and crises that have done our economy irreparable harm.

Rewind to a couple of years ago, and the print media was content with profiles of personable CEOs and pages upon pages devoted to the kitschy Mergers and Acquisitions. Where was the hard-hitting reporting that could’ve opened the public’s eyes to the failing economy much sooner?

“I'll attest that business journalists as a rule are as smart, sophisticated, and plugged-in as they seem”, notes former Wall Street Journal reporter Dean Starkman in a recent article for Mother Jones. And yet that army of professional business reporters – an estimated 9,000 or so nationwide in print alone – for all practical purposes missed the biggest story on the beat. Why?”

Starkman suggests the print industry’s own declining financial health may play a role. In the last decade alone, the New York Times profit margins have fallen from 24 percent to a meager 8.5.The newspaper industry’s failing has also resulted in a 25 percent loss of jobs in the business reporting field alone.

He adds that business journalism’s insistence on clinging to outdated formulas could play a role. The focus on consumer-pleasing and personality-driven stories – “not deconstructing balance sheets or figuring out risks” – seems part of the problem.