The role of authoritative media in Economics

Bušs, Ginters (2007): The role of authoritative media in Economics.

Abstract

The paper explores the link between authoritative media, which is called the public court in the paper, and economic prosperity. Three types of evidence are used. First, arguments of the superiority of the public court over traditional media are provided. Second, a formal model shows a causal effect from more authoritative media viewers to greater political efficiency. Finally, the paper presents an overview of empirical literature on the link between political efficiency and economic prosperity. The finding of the paper is that the public court facilitates economic prosperity regardless of whether the traditional media are politically biased or not.

• Item Type: MPRA Paper
• Language: English
• Keywords: institutional economics, media, politics, public court, economic prosperity
• Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O43 - Institutions and Growth; D - Microeconomics > D0 - General > D02 - Institutions: Design, Formation, Operations, and Impact; D - Microeconomics > D7 - Analysis of Collective Decision-Making > D72 - Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O12 - Microeconomic Analyses of Economic Development

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