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6 February, 2020 11:50:59 AM / LAST MODIFIED: 6 February, 2020 11:52:48 AM

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Role of economic journalism in development

Both the government and private sectors, domestic and foreign citizens may be benefitted from economic journalism
MD. MUZIBUR RAHMAN
Role of economic journalism in development

The meaning of the term journalism generally is an activity or a profession to collect information and write for newspapers, magazines and websites or to broadcast it through various media such as television, radio or live streaming. Journalism explains the events which impact people’s lives in different ways. Journalism may be of different kinds in meanings such as civic journalism, economic journalism, commercial journalism, sports journalism, political journalism, education journalism, defense journalism, crime or detective journalism, etc. There is also the importance and role of economic journalism in our personal, social or national life. Economic journalism is different from other journalism because it gives emphasis on economic and development matters.
It is an encouraging and motivational work which includes knowledge, skills, research and predictions of future economy, trends of economic activities, possibilities and potentials of production, investments, risks of economic adventures and information. Newspapers are called the fourth estate which has an important role in our socio-economic development. It is called storehouse of knowledge regarding political, economical, trade, commerce and other important matters which we need to know. Most of the dailies carry fresh and current economic reports, news, views by political leaders, thinkers, researchers, writers/columnists about economics and development of our country and the world.

Peoples know, learn from their views, news and articles which are furnished with latest update of economic affairs information related to the national interests. They become rich in education and knowledgeable themselves about latest discoveries, planning of the government and can perform responsible duties for the nation. Economic journalism may include economic innovation theory, news, success stories of successful investors/entrepreneurs, producers, causes of failures (if any) in this field, motivation, encourage, future direction for the economic and investment decision.

 Potentialities and possibilities of profitable sectors, importance of financial education and inclusion, foreign experience for indigenous development if it is adapted and suited, importance of trade fair, publicities and diplomacy for attracting foreign investment may be included in economic journalism. Both the government and private sectors, domestic and foreign citizens may be benefitted from economic journalism.

The government can gather public opinion regarding any subject of about the ups and downs of markets, market prices, economic growth, investment, production, growth and development, and these opinions are very helpful for framing befitting policies in future course of actions for researchers, planners/policy-makers. The politicians, businessmen, scientists, economists are benefitted from the news. Students can learn and educate the latest development of economic news, market activities, theory and practice.

The possibilities of effecting social reform through newspaper’s news and editorial policy have led many enthusiastic and idealistic journalists to urge the recognition of journalism as a profession of great social value. Economic journalism has the great potentialities which present an entire view of the economic problems and prospects for both home and abroad and what are our duties and responsibilities in future. It works, pursues, predicts and supplies the foods of economic thoughts for our future planners, researchers and economists.

It also makes an economic knowledge-based society or a nation, creates consciousnesses among the people and helps prepare themselves as think tanks, economists, researchers and self-productive decision makers. Several educationists/economists define economic journalisms in their own ways. Dean Ackerman of Columbia school of journalism states, “Journalism as a business is a public service unique in American economics.” The economic journalism is getting popular day by day in developed and developing countries because of its economic effects and benefits worldwide.

Most of the foreign diplomat offices (ambassador office or consulate) in the world have their own economic wing or business wing to conduct export-import, business, commerce and investment with branding and advertising (news) of their indigenous products and services. They (ambassadors/diplomats) conduct, explore and identify the potentials of business fields and economic cooperation between the countries giving the signals for mutual benefits. Bangladesh has tremendous success in economic development in the past decade maintaining GDP growth between 6%-8%. At present, the GDP growth of Bangladesh is 8.15% according to latest news.  

Bangladesh has passed from least development country to developing one and committed to becoming a rich country within 2041. It is an emerging economic tiger in South Asia and South-East Asia. Bangladesh has advanced in its digital and technical capacity, is implementing mega projects and infrastructures for generating more economic revenues in its exchequer. It is the best and attractive place for foreign investors and is now working to attain Sustainable Development Goals (SDGs). Bangladesh is one of the largest deltas of the world built by the confluence of the 3 (three) mighty rivers and has made the Delta Plan-2100 for the visions of 21st

 century.

The good news and strong messages should be sent and spread in the country and outside of the world to motivate and integrate the peoples for Bangladesh’s development and prosperity. It will help to attract domestic and foreign investment. Economic reporters, economic journalists can do this noble work with skilled hand and with sincerity.

So, all the news media especially the economic reporters/journalists and editors can play a vital role with courageous editorial policy in this respect. Best prizes can be given nationally to the economic reporters/journalists for their due and right performance in this field; editors to encourage sustaining and surviving these enthusiasms of economic writings, reporting or economic journalism.

Md. Muzibur Rahman writes on development and economics issues. E-mail: muzibur64@gmail.com

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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