The Media's Role in the Assault on Working People
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President Obama on Tuesday ordered “a government-wide review” of federal regulations to root out those “that stifle job creation and make our economy less competitive,” but he exempted many agencies that most vex corporate America.
It’s worth noting that a lot of this talk about “job creation” is really not about that at all, but about creation of benefits to the people at the top, under the implied or assumed justification that jobs will appear magically down below as a result.
Cutting some government regulations could theoretically create jobs, and certainly do so in some cases, but doing so does not necessarily ensure that result—not by a long shot. All you have to do is look at all the companies that saw their profits soar under Bush Administration deregulation but still went ahead and cut jobs where they could. And ask any friend in business—it’s not the job of top decision-makers at corporations to create jobs. It’s to turn profits for shareholders.
Irrespective of your personal preferences on these policies, you should want reporters to report these things honestly. For example, you can find government regulation burdensome, and that would make a legitimate story, but that doesn’t mean that the burden is the same for everyone, or that the public benefit necessarily is outweighed by the inconvenience experienced by the entity being regulated.
What’s missing here is a consistent look at who is always coming out on top in these situations, plus comparisons with other countries to see how they are coping with budgetary crises.