Chapter

The Grounding of the Economy

in Front Page Economics

Published by University of Chicago Press

Published in print March 2011 | ISBN: 9780226781983
Published online March 2013 | e-ISBN: 9780226782010 | DOI: http://dx.doi.org/10.7208/chicago/9780226782010.003.0002
The Grounding of the Economy

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This chapter addresses the period following the 1929 crash when the first of these dramatisms came under trial and the New Deal followers of John Maynard Keynes began to fashion a new dramatism. There was business in 1929, but that was often contrasted to finance or commerce. In the Tribune, the stock market was especially suspect since it diverted money from “legitimate lines of business.” The theory of the natural business cycle had strong staying power. Economic as a modifier was in wide use in 1930 and 1931. In 1929, it was common for Tribune journalists to write an entire article on commerce, business, and such without any credited authority. In 1987, the proportion of authoritative news coming from the president or the White House had doubled over that in 1929, while the use of congressional informants had shrank to less than a third of what it was.

Keywords: economy; 1929 crash; John Maynard Keynes; Tribune; stock market; commerce; business

Chapter.  9969 words.  Illustrated.

Subjects: History of the Americas

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