| Rich Capitalist |
A left-wing friend asked me recently how it was that the media could have a left-wing when they are owned by rich capitalists.
Here is a relatively systematic answer, concentrating on the Canadian situation:
1. The media are not usually owned by rich capitalists. In Canada, they are generally owned by government (CBC) or large publicly-traded corporations: Bell, Rogers, Corus, Postmedia. Ownership is diverse—do you own any mutual funds? Are you a rich capitalist? Lots of shots are called by government bureaucrats, on the one hand, and by hedge fund managers, on the other. These folks are all from the same class: the managerial-professional class or clerisy. The managerial class or clerisy is strongly left-wing; it always wants more management, which is to say, more government. More government means more money, more status, and more power for them. It is the same class that became the “vanguard of the proletariat” and ran everything in the old Soviet Union. In Canada, it is the base of the Liberals and NDP.
2. Rich capitalists, even when they do own or control a media outlet, are no more likely to be right wing than left wing. Bill Gates is left wing. Mark Zuckerberg aggressively supported the left wing with Facebook and his other social media holdings. Jack Dorsey aggressively supported the left wing when he ran Twitter. George Soros is far left. And so on. Self-interest commonly drives rich capitalists to the left, because the left calls for more government regulation, and more government regulation reduces competition. Government regulation is almost necessarily written in collusion with big business, so big business is on the left. If you are on top, you want lots of hoops and restrictions any start-up must jump through, to keep you on top: the rich get richer, and the poor can’t move up.
3. Some rich people, generally entrepreneurs who built their own businesses, are constitutionally right wing and resent government interference and control. But even when media are owned by rich capitalists, and the rich capitalists are themselves right-wing, rich capitalists are generally most interested in making money. That’s why they became rich. They are not likely to spend their time closely managing the details of their business. They hire people to do that, and let them do as they like with the politics so long as the business generates good profits. So even in this case, the editorial tone of the medium is likely to be set by the clerisy, the managerial class, the guys who graduate from journalism school, not the people who own shares. You pretty much cannot graduate from journalism school without at least pretending to be left wing.
4. Media generally depend for most of their revenue on advertising. And the single biggest advertiser in media is .... government. Next to that, of course, is publicly-traded corporations. Therefore, the bottom line in media, if they want to stay in business, is that they have to keep government and the bureaucratic clerisy happy—meaning a left-wing, pro-big government bias. And on top of this, we have in Canada massive direct government subsidies to approved media.
