The Markets and the Media: Business News and Stock Market Movements

(Paperback)

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In recent years there has been a great influx of sources for business and financial news, yet the hope that this financial media boom would lead to the democratization of the financial markets has not been realized. Thomas Schuster's The Markets and the Media explores why the expansion of economic communication has proven to be of only limited benefit, arguing that the financial media boom has had negative repercussions resulting in substantial costs for the individual as well as the system. The Markets and the Media stands alone in its class: It is the first comprehensive analysis focusing on the complex, intricate, and often puzzling relationship between the financial markets and the mass media. Featuring a comprehensive business bibliography, this book is a must-read for both finance experts and media scholars.

Reviews

In this hard-hitting analysis, Thomas Schuster unmasks how the symbiotic relationship between a rapidly growing financial news media and the stock market gurus of leading investment banks victimized most of all the unsophisticated individual investor during the last stock market boom. This well-written text is a must read for individuals who do not want to jeopardize their financial well-being by following the investor hype of so-called experts. -- Brigitte Nacos, Columbia Univeristy * Choice Reviews *
Explores why the expansion of economic communication has proven to be of only limited benefit and examines the negative reperscussions that the financial media boom has had on the individual and the system. * Journal of Economic Literature *
Schuster's careful analysis shows that the mechanism to which Walter Lippmann alerted us almost a century ago applies to the financial markets as well: the media's news values create virtual 'pictures in our heads' that we treat as reality. Acting on them we create 'real reality.' -- Wolfgang Donsbach, Institut fr Kommunikationswissenschaft

Author Bio

Thomas Schuster is associate professor of journalism at the Institute for Communication and Media Research, Leipzig University.