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Peanut butter enthusiasts lobby for more people to eat peanut butter! Man with hammer thinks most problems can be solved by smacking them! News at Eleven!
...More seriously, I think I generally share your feelings about the finance industry. But this was funny.
True, but media has also been undergoing a major structural disruption due to the internet for the past twenty years; they're desperately trying to do whatever it takes to keep eyeballs. What's getting pushed out (e.g. in the NYT) is what sells - entities that don't keep up, like Newsweek, Time, many mid-major and local papers, etc. - die.
Also also, the idea that newsmedia are amoral gossipmongers lying and ginning up hysteria to goose sales isn't exactly new
Perhaps there is a third option between "people foresaw and intended these results because they are evil" and "people would achieve alternate results because they are good", which is "people intended well, but were wrong."
I'm not going full mistake theory - people tie their egos to their opinions, rationalize and dig in, and usually aren't amenable to being convinced by dispassionate arguments. But that doesn't get rid of the fact that people tend not to think like cartoon supervillains.
It doesn't need to be cartoonish supervillainy, it's world-class, hardworking, high IQ supervillainy done by actual supervillains with decades of experience, not invented by some idiot comic writer who couldn't write a coherent plot to save his life.
They can invent and propagate whole ideologies to justify and valorise looting, perfect networks of influence and private enrichment. They can reframe looting the commons as beneficial, positive development, the source of our strength. They can reframe sabotage and wrecking as virtue struggling against evil. And people will believe it because people generally go with the flow. Plus these guys are very good at papering over the cracks because they're Very Rich or Are The Media. Maybe they believe it too themselves, it's easy to believe things if they're advancing your interests.
These are Ayn Rand supervillains.
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"whatever it takes" notably didn't involve breaking the story that the President was mentally incompetent, and before that it didn't involve breaking the story that the president's son was selling access to his father to foreign interests. In fact, there's no shortage of stories that could have earned the news corps an avalanche of eyeballs that they passed on for clearly ideological reasons. This argument that the media class is fundamentally mercenary and are just seeking to maximize attention and ad revenue might have been weakly plausible in 2014, but at this point it is pretty clearly an undead argument immune to any degree of contrary evidence.
Correct, because those stories would have pissed off their current readers, without necessarily gaining them eyeballs among other, new customers.
Nowadays media makes money by feeding people's epistemic bubbles, not puncturing them.
If socmed metrics are anything to go by, drama sells. Also mainstream companies have proven time and again they will pick ideology over profit.
Social Media is free; NYT is trying to get people to pay money to subscribe, and precisely by picking ideology - i.e., reinforcing their reader's pre-existing biases and telling them that they are correct about the world but moreso, and in fact have they considered being even MORE worried about their particular boogeymen?!? - has racked up millions of subscribers.
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