Economic Life: global capital, financial journalism, and independent media
This article examines financial journalism in Morocco during the 1990s, focusing on the tenure of French press magnate Jean-Louis Servan-Schreiber at La Vie économique (LVE) and the entrance of global capital into Morocco’s media market. At LVE Servan-Schreiber assembled a group of young reporters, columnists and analysts who came to journalism through finance and financial journalism at a time when Morocco was in the throes of economic liberalization. This moment proved formative for a new generation of media ownership and demonstrates a shift in media-state relations toward an ambivalent authoritarianism, defined by a new openness to complementary interests of media and the state. Bringing together political economy and textual analysis based on archival research, this article argues that financial journalism set the stage for a commercialization of independent media in Morocco that is characterized by recognition of media’s role as both a facilitator for global capital and a powerful player in the realm of geopolitics. Additionally, on the domestic front, the economic press paves the way for the reentry of politics into public discourse and a liberal approach that attempts to work within the constraints of capital while not eschewing critique.