Our political leaders are expected to answer questions from the media much more frequently, and across a much broader range of issues, than once was the case. 1 Some of this spills over onto other institutions, including corporations and central banks.
The media is responding to market demand for information here, but as in any other competitive industry, media organisations are also seeking to create new markets by supplying more intensive, more frequent coverage of more issues, including economic policy. The second rationale for more communication is the desire for more effective policy.