Kleptocracy and Democracy Debate Series
The Crisis of Big Money Media
Is It Time to Rein in Kleptocrats Who Seek to Dominate the World’s Information?
On Thursday, December 1, join Hudson Institute’s Kleptocracy Initiative for the first in a series of debates on kleptocracy and democracy. Featuring Hudson Visiting Fellow Martha Bayles of Boston College and Megan McArdle of Bloomberg View, this event will be held at the 5th & K Busboys and Poets in Washington, DC. Doors open at 6:00 pm and the program will begin at 6:30 pm.
It is an increasingly prevalent phenomenon across the globe: Media companies are being taken over by business tycoons and kleptocrats less concerned with honest journalism than with their own political and financial self-interest. Their wealth itself isn’t necessarily a problem. There are genuine philanthropists now sustaining serious news publications and opinion outlets, and serious investors seeking new revenue streams to pay for high-quality news. But the overall trend is disturbing.
What to do? Are there safeguards that governments can put in place? Does that even make sense in a digital age? How might governmental responses be squared with Western faith in free economic competition? Does that still offer a path forward, or is the global erosion of media freedom best described as a market failure?