Amidst the continuing wikileaks saga, we Indians have had a bit of a foobar here in the media with a corporate lobbyist and a corporate titan airing (a bit more clearly) the various metaphorically-incestuous relations that abound between media, business and the government. it’s like an art-imitates-life version of paddy chayefsky’s network, summed up best by my favourite english language journalist, P. Sainath
Whether it is gas, spectrum, or mining, luxury private townships or other dubious land deals, the last 20 years have seen the consolidation of corporate power on a scale unknown in independent India. It would be wrong to disconnect the Radia tapes from this background. From pitching for licences, mines and spectrum using money and media power to pitching for ministerial candidates and portfolios by the same methods is not a huge leap. The same period has also seen the emergence of media themselves as major corporate entities. Today, we often have seamless movement between the personnel of some economic or financial newspapers and non-media corporations. An assistant editor goes off to Company ‘A’ as a PRO, returns in a more senior post to the same newspaper. Next, goes on as chief PRO, or maybe even as chief analyst or a business manager to a bigger corporate. But the newspaper’s door is open for his or her return, perhaps as resident editor.
The dominant media are not pro-corporate or pro-big business. They are corporates. They are big business. Some have margins of profit that non-media outfits might envy. Media corporations are into hundreds of businesses beyond their own realm. From real estate, hotels, mining, steel, chemicals, rubber and banks to power and sugar. Even into private treaties with other corporations in whom they acquire a stake. On the boards of India’s biggest media companies are also top corporate leaders. Some who find places on the Governor’s Forums of the World Economic Forum. Others heading private banks. And then there are top political leaders who directly own vast media empires. Who can hold ministerial portfolios (affecting these domains) while running their media fiefdoms. The dominant media are not pro-establishment. They are the establishment.
emphasis mine, though there is a bit in the article that my tinkering overshadowed.
to add a bit of context, these tapes have come out in the investigation into the sleazy actions of a recently excommunicated member of the Cabinet of Ministers, who handed out favours in charge of the telecom portfolio.
It’s a rather unhealthy time for our politicians, seeing as the Chief Minister of the state I live in also quit after a year of doing nothing, and members of the recently sworn-in state cabinet providing additional drama by quitting a bit later. and one of the richest and most corrupt politicians in the state has split off from the government to form his own party. And later on towards the end of the month is awaited a report that has kept this place uncomfortable for a year – the decision to carve out two states out of what now exists as a single one.
Happy December, everyone! If I’m alive, I will see you on the other side (and maybe make a few posts along the way!)
And where, again, did you say you got your Ph.D. in economics, the Chicago School or the London School of Economics? Why do liberal hacks like you pretend to know anything whatsoever about the economy when you have no background in, say, economics? Being an op-ed columnist simply means someone is employing you to write opinions. There is no requirement that your opinions be grounded in fact or sound theory. A disclaimer to that effect would be helpful.
Moderator’s Note: Mr. Krugman received his B.A. from Yale University in 1974 and his Ph.D. from MIT in 1977. He has taught at Yale, MIT and Stanford. At MIT he became the Ford International Professor of Economics. For more, click here.
— Posted by O.D. Stinson