Real Time News
(9/10/2005)
Real Time News. Our ability to see, non-stop, real-time coverage of events around the world has initiated changes that we are just beginning to see and do not understand. 1) It was the proximate cause of the Easter Accord in Northern Ireland and the IRA laying down weapons this year. That peace was literally purchased with American money, drawn from Irish-Americans who could not stand to see the violence in Belfast on their TV sets. 2) Increased visibility has dramatically increased the reach, the audience, and the ‘return on capital’ for terrorists. 3) It has increased the demands that poor people in China, India, and elsewhere are placing on their governments for rule of law and rising living standards. The result is policies by their governments to attract foreign (U.S.) capital, which has spawned the outsourcing battle here and in Europe.
The open question is what that steady stream of raw footage does to the viewers. Investors’ reaction to the New Orleans flood is an indication that we may be ready to confront real problems again. The flood of donations and the response of the stock market are both very positive signs for the country.