Last Updated on June 24, 2017 by Karl Thompson
Identifying media bias through content analysis is a key skill in sociology. The American media is often accused of having a right-wing bias which means they will present a pro-capitalist, pro-business world view as normal and desirable and promote a neoliberal policy agenda. (1)
Below I analyse one newspaper article (about why 66 million Americans have no savings at all) to illustrate how agenda setting, or what and what isn’t included in the article, results in a subtle right-wing, neoliberal bias.
The article is as follows: Can you guess how many Americans have absolutely no savings at all – June 21, 2016
OK – It looks like it might be a lefty topic, because it’s about the precarious financial life of the poorest sections of American society, but there’s no class-based analysis focusing on how it’s mainly low-paid and temporary jobs in the context of 30 years neoliberal economics resulting in productivity gains, but increasingly unequal national income distribution meaning the very rich get richer, while most of the rest of us, especially the poor, get relatively poorer.
Having alerted us to these ‘shocking statistics’ (oh those poor, poor Americans), we are then told that this low-savings rate is spread among all households –
‘the problem is hardly confined to the poor. Yes, more than half of all households with an annual income under $30,000 have no emergency savings. But fully one in six households with an annual income between $50,000 and $75,000 had no emergency savings either’.
The article then goes on to talk about how Gen Y is better at saving than Gen X – the tone of which seems to blame 40 to 60 somethings for having too high consumption levels and not saving enough… (‘if your damn kids can save, then why not you too’?) – here ignoring the following two important contextual facts:
- (A) Gen Xrs were encouraged to consume in the context of a growing economy, then the neoliberal crash came in 2007, and here we are: hyper-precarity;
- (B) OK Yes – Gen Yrs may appear to be better at saving, rather than avoiding debt, but why are they saving? I bet once you take out all of those saving to go travelling (and hence consuming) or saving for a mortgage (you now need a bigger deposit than your parents), you’d have similar rates of debt being racked up across the generations.
The article ends with the classic neoliberal trick of individualising the whole problem:
“The biggest barrier to saving is not being in the habit of saving,” says McBride. “You have to set some money aside with every paycheck.” Making it automatic can help, he advises. But no matter how you do it, start now.”
Ignoring the fact that for the typical person with no savings (mots of them are in low-paid jobs) there simply isn’t enough money left at the end of the week to put something extra by!
In summary: why don’t people save according to the narrow agenda of this right-wing, neoliberal article?
- 40-60 somethings got into the habit of consuming too much.
- It’s a problem which effects all levels of income
- 20-30 somethings are much better at saving than their parents
- Irresponsible parents need to learn from their kids and just save more….
What’s not considered/ emphasised
- There are 10-15% of American households which are in no position to save for emergencies
- This is because 30 years of neoliberal policies have created precarious and low-paid jobs, which has meant productivity gains, the gains from which have gone disproportionately to the top 1%.
- Generation Yrs are shit-scared of their futures and so are more likely to save compared to their parents.
- We need state-intervention to redistribute wealth away from the richest 1% and back to the lowest paid workers who actually created this wealth through their labour power.
(1) I didn’t intend to write this today, it just sort of happened, I was actually looking up stats on inequality in America, and I got quite annoyed when I read (and thought) about the content of this article.
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