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T. J. Coles — How Fake News Perpetuates Neoliberalism

Summary:
Neoliberalism is a toxic economic dogma that has serious social and political consequences. In Britain and the US, mainstream media have a long record of selling neoliberalism to the public and political lawmakers. Recall Prime Minister Margaret Thatcher’s slogan, “There is no alternative” (TINA). As I document in my new book, Real Fake News (Red Pill Press), elites throughout history have always used information to control the thoughts and actions of the public. But the modern project has stretched itself to the limit, and people are starting to say No.… Fake news is perception management through narrative control, reality being a function of perception. When most of one's reality is not experienced directly, which Bertrand Russell called "knowledge by acquaintance." Rather, it is

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Neoliberalism is a toxic economic dogma that has serious social and political consequences. In Britain and the US, mainstream media have a long record of selling neoliberalism to the public and political lawmakers. Recall Prime Minister Margaret Thatcher’s slogan, “There is no alternative” (TINA). As I document in my new book, Real Fake News (Red Pill Press), elites throughout history have always used information to control the thoughts and actions of the public. But the modern project has stretched itself to the limit, and people are starting to say No.…
Fake news is perception management through narrative control, reality being a function of perception. When most of one's reality is not experienced directly, which Bertrand Russell called "knowledge by acquaintance." Rather, it is shaped by testimony, which Russell called "knowledge by description."

Knowledge by description is heavily influenced by authority. When authoritative sources are corrupted, perception strays from reality, which cannot endure in the long run. Truth will out and is victorious eventually. But deception can go on a long time before events that are experienced contradict "authoritative" reports.

Take, for example, the mainstream’s fake news about the crash. Reuters Institute for the Study of Journalism at Oxford University published a report on mainstream media coverage in the US and Europe. The authors found that one of the goals of big businesses, which rely on PR firms that often hand copy to journalists, is to perpetuate a “narrative of normality,” in which their greed is kept out of public view for as long as possible. As the authors put it, “no news is good news.” When a crisis does occur, the task is perception management.
“[S]tories originate from six main categories of sources,” the researchers found: from journalists, corporations, analysts, authorities and politicians and shareholders. Notice that unions, activists, alternative currency purveyors and dissident academics are not included. They can be found in the alternative online media and are thus at risk of being labelled “fake news” by the powerful. “When excluding the ‘default category’ of journalists, most of the information in news stories about the banking crisis comes from banks themselves.” Indeed, more than half came from financial institutions. “On average 52% of all information comes from banks, another 18% from analysts/experts.”…
Renegade, Inc.
How Fake News Perpetuates Neoliberalism
T. J. Coles | postdoctoral researcher at Plymouth University’s Cognition Institute and the author of several books, including Real Fake News

See also

RT
Tanks on Maidan, president’s gold bath & more outrageous Ukraine fakes by disgraced Spiegel reporter

DW (Deutsche Welle)
Opinion: Truth is the first casualty of Claas Relotius
The Guardian (UK)
Der Spiegel to run 23-page special on reporter who faked stories

AFP
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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