Reading the framing of financial crisis : A content analysis of Korean publication texts
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This study was carried out to determine the viewpoints from which published texts framed, configured, and interpreted the historically unprecedented global financial crisis that erupted in the United States in September 2008. In this paper,related books published in the Korean publication market in the period after the global financial crisis were studied in terms of how they reinterpreted the issue of global financial crisis within certain frames and which attributes they emphasized in evaluating and understanding the issue. The main findings of the analysis were as follows. First, the frames for interpreting the causes of the financial crisis were one of financial system inadequacy, which led to the subprime mortgage crisis and the bankruptcy of Lehman Brothers. The limits of capitalism also appeared as a central frame in interpreting the cause of the crisis. Second, the dominant frame involved a moral appraisal of the financial crisis in terms of the greed of individual investors and moral hazard. Third, the structure of conflict represented in Korean publications involves a frame that focused chiefly on conflicts between the U.S. and Asian countries.
Abstract
This study was carried out to determine the viewpoints from which published texts framed, configured, and interpreted the historically unprecedented global financial crisis that erupted in the United States in September 2008. In this paper,related books published in the Korean publication market in the period after the global financial crisis were studied in terms of how they reinterpreted the issue of global financial crisis within certain frames and which attributes they emphasized in evaluating and understanding the issue. The main findings of the analysis were as follows. First, the frames for interpreting the causes of the financial crisis were one of financial system inadequacy, which led to the subprime mortgage crisis and the bankruptcy of Lehman Brothers. The limits of capitalism also appeared as a central frame in interpreting the cause of the crisis. Second, the dominant frame involved a moral appraisal of the financial crisis in terms of the greed of individual investors and moral hazard. Third, the structure of conflict represented in Korean publications involves a frame that focused chiefly on conflicts between the U.S. and Asian countries.
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