Free and functional media are indispensable to holding governments accountable and supplying the information that makes markets work. Last week, CIPE staff had an informal discussion on the subject of how best to train journalists in reporting on business and economic issues. We were privileged to have Tim Carrington, an expert on the subject at the World Bank, share his insights with us.
At CIPE, we are acutely aware that a functioning private sector depends on a functional media and good governance. Well, we must consider that the media, too, are dependent on their environment and their relationships with other parts of society. Journalists cannot isolate themselves from a corrupt economy, a polarized society, or a repressive government. Consequently, in designing programs for journalists, we should assess three factors:
- The skills and knowledge of journalists
- The legal and regulatory environment
- The economic environment
To take one, the economic environment poses a variety of challenges. The ownership of media companies can influence their reporting. Even if they are not owned by the state, they may be owned by political interests or elite families. Journalists themselves are often under immediate financial pressures, since they are commonly poorly paid. They therefore practice “journalism for cash”—in return for reporting a story or attending a training, they expect cash payment. Finally, it must be remembered that media companies must generate revenues, typically through advertising, to be economically viable. This means they must develop content that sells and also establish ways to insulate content from advertising.
The economic and legal challenges to good journalism can be formidable. Still, there are openings for change. We cannot ignore the development of economic and business journalism. Without it, the growth of an independent private sector is inhibited and public debate on economic issues is foreclosed.
For further information, Mr. Carrington recommended The Right to Tell: The Role of Mass Media in Economic Development, published by the World Bank.
Published Date: February 09, 2007