The sad thing is that most people don't learn lessons from history. It took me far too long to start learning lessons from history.
After an asset bubble and collapse people will understand why we have a lot of the regulations from the 1930s.
After an asset bubble and collapse people will understand why we have a lot of the regulations from the 1930s.
In previous crises people could depend being educated by mostly responsible media . Today both mainstream and social are entertainment first don’t care for truth or their role in educating the society .
It is more likely they will be taught to blame some boogeymen who have nothing to do with the problem rather address the real one .
Very briefly you are not wrong, yellow journalism has a long history is not new. In America from the times of federalist papers through slavery and jim crow and antisemitism of the 30s, to civil rights and into modern times it has been a powerful tool to shape public opinion.
There is nuance to this however, the era of professional journalism has been brief, only 100 or so years. In that time, media had the most impact in shinning the light on the truth, notably with reporting on Watergate, Pentagon papers or Hershey on Hiroshima and so on, that era is coming to an end.
As the cost of publishing drops orders of magnitude in every generation of technology as it happened with cheap and fast printing press, radio, broadcast and then cable TV and finally the internet and mobile, the problem becomes more massive and much harder to regulate, and also drops in the quality of public discourse and nature of truth.
Basically it boils down to we had a good(relatively) 100 year run with media and corresponding improvement in civil liberties and good governance, we can no longer depend on educated public taking decisions sooner or later in the right direction like we have last century or so.
1. Bring back those laws requiring fairness of media representation.
2. Force standardized disclosure of sponsored content of any type (total, segments, placement). Many countries already do this. Standardized = big, high contrast "Ad" sign in the corner with mandatory size proportional to content size.
3. Mandate providing sources.
4. Treat all influencers with an audience above NNN followers (10000?) as mass media.
5. Require that widely shared content is fact checked and that fact checking is automatically included while sharing and provide recourse for fact checking up to the legal system.
6. For sensitive topics (politics, primarily) require AML and KYC disclosures of funding, primarily to find foreign funding sources and propaganda.
However, you know, vested interests, the bane of humanity.
Of course anyone should be free to publicly say anything, however untrue it might be.
Should they be free to broadcast their nonsense to million of people?
I don't know, but I do feel these are two different things.
Spot on, today you can do that as close to free as possible. In the eras past that was not possible it was expensive so only few could do it and that served as a moderating influence, it was not easy for fringe beliefs to become mainstream. The gatekeeping had the downside of suppressing voices particularly minority and oppressed voices so it was not all rosy.
The only thing we know is we can no longer use the past as reference to model how the future of politics , governance or media will be, which institutions will survive and in what distorted versions in say even 10-30 years.
> Spot on, today you can do that as close to free as possible.
Are you sure?
You can author a tweet for free, yeah. Then you let Musk do the broadcasting if he so pleases. Users have no control over the broadcasting, platform do.
There is no way for this not being censorship and not being used to suppress less powerful opposition. Which is exactly how it was used in the past. Plus, just look what both sidesm currently does - it motivates journalists to write as if both sides were equal in situation where they clearly are not.
> Require that widely shared content is fact checked and that fact checking is automatically included while sharing and provide recourse for fact checking up to the legal system.
Fact checking is irrelevant to public opinion. And again, it is not that difficult to bias it.
Fairness of media representation seems hard to define and prone to abuse.
But mandating the the financial conflicts be disclosed and ads labeled seems reasonable.
Just a minor point I would say it is ~120 years rather than 70. There was influential journalism through the early 20th century when professional journalism took shape which influenced policy of note the anti trust actions taken under Sherman Act in early 1900s.