The original bailout of US corporations: The public relations bailout

More than a trillion of taxpayer dollars are currently being used to bail out the US banking, mortgage and car industries. This invokes an interesting connection to public relations the last time drastic US government involvement with corporations was contemplated. This pre-First World War crisis of the free enterprise system involved a deficit not of money but of favourable public opinion. The requirement was for vast amounts of public opinion and public policy work by a reported at least 1200 – what were at that time called – press agents. This was the period when public relations emerged as a fundamental plank of US and ultimately of global culture. The thesis of this article is that many aspects of the world we live in cannot be properly understood without a better analysis of the first bailout of US corporations—the public relations bailout.