Media Self-regulation in Light of the Economic Theory of Journalism
Media Self-regulation in Light of the Economic Theory of Journalism

Summary/Abstract: The economic theory of journalism proposed by Susanne Fengler and Stephan Ruß-Mohl focuses on the concept of rational choice in interpreting journalists’ behaviour. The foundation of the theory is its creators’ conviction that media professionals are motivated by selfish reasons. The economic theory of journalism also sheds light on journalistic ethics. The assertion is made that employee behaviour is motivated more by the desire to benefit than by their journalistic value system. The article discusses existing research on media self-regulation tools that utilise the economic theory of journalism as context, which makes it possible to demonstrate the theory’s veracity. Research on the effectiveness of media self-regulation shows that the most effective self-regulation instruments can interfere with the personal interest of the journalist. These self-regulatory tools, the essence of which is based solely on appealing to the conscience of the journalist, unfortunately, fail having at best a negligible impact on journalistic practice.

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