'There is no alternative'? The role of the media in shaping public understanding about the economy

In the context of the ‘cost of living crisis’, building a more inclusive economy in the UK is more important than ever. The news media plays an important agenda-setting role in
any effort to reshape the economy, especially during crises, by deciding which experts will frame debates, and shaping views on economic policies (Knowles 2020a; Schifferes and
Knowles 2022). However, low economic literacy is a significant barrier to a better informed and engaged public in the UK, as elsewhere. This chapter responds to a central
paradox: as the global economic system is becoming more complex, the public is consuming more mainstream news, but, at the same time, journalism is increasingly under-resourced and the public trusts journalists less (Schifferes and Knowles 2022). This paper evaluates a range of (academic and industry-based) surveys of the public and journalists to evaluate how their views overlap and what strategies might improve the engagement and quality of economic news.