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 […]


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 […]