May
04
2009

NYT Economics Reporting Still Failing Along

While asserting the extremely simple journalistic principle that "Past Records Should Matter In Assessing Views on the Economy," Dean Baker (Beat the Press, 5/2/09) is willing to admit that everyone makes mistakes, but the odds are that anyone who couldn't see an $8 trillion housing bubble is not a really good person to rely upon for predictions on the economy. Joe Nocera gives a quick survey of some radically conflicting forecasts in his [New York Times] column today. It's worth noting that all the optimists completely the missed the bubble and the impact that its collapse would have on the […]

Apr
22
2009

Empty Economic Rhetoric at the NYT

Asking a simple question about a large issue–"How Do Trillion Dollar Bank Bailouts Fit With 'Free-Market Fundamentalism?'"–Dean Baker (Beat the Press, 4/19/09) tells his readers that "the obvious answer is, they don't"–since, "if you are a free-market fundamentalist, then you are absolutely opposed to bank bailouts" that "involve taking taxpayer dollars and handing them to banks that would go belly up if left to the market": However simple this distinction might seem, it somehow escaped the NYT, which discussed the policies promoted in recent decades as though they could be plausibly described as "free-market fundamentalism." It should be perfectly apparent […]