Discussing money is generally afforded the same privacy as the balance of one’s bank account. Inviting an open conversation about the subject in public, from basic finance to complex economics, is thought to be rude and even poorer politics.
It is perhaps the most polarizing field of contemporary journalism because it has absolutely no means of circumventing readers’ class ties and can only clash with their compromised socio-economic opinions: what time readers could devote to the possible merits of ‘tax cuts’ or increased ‘government spending’ from one year to the next is usually put in the service of bolstering their own particular side of the trench.
And then there’s the fact that financial reporting was tasked with covering the ascendancy of “Reaganomics” in Western political discourse during the 1980s, and outright drafted to make sense of “globalization” (a vague catch-all for the apparent international prosperity brought about by free trade agreements but also the arrival of budgetary shortfalls, lapsed or eliminated regulatory provisions, and rising unemployment) since the 1990s.
To meet the demand, and keep pace with a burgeoning cottage industry of self-appointed financial experts, we borrowed more and more aloof language and overly-complicated concepts from the notoriously noncommittal (read: variable-rich) social science of economics that is inaccessible to most of us, even if we had the time between our first and now second jobs to look into it. Continue reading