Posted on 08/09/2007 8:10:48 AM PDT by SuziQ
Fair but Unbalanced How the media promote false pessimism about the economy.
BY BRIAN S. WESBURY Thursday, August 9, 2007 12:01 a.m.
Not that it needed any help, but the already energized debate about journalistic bias was electrified when Rupert Murdoch, owner of the "fair and balanced" Fox News Channel, struck a deal to buy The Wall Street Journal.
I have no desire to take sides in this debate, or question anyone's integrity, but my role as a business economist gives me a unique view of this subject. I talk frequently with members of the print media, and I am a regular guest on business TV shows. Both venues stress debate and journalistic skepticism. In my view this tendency causes a great deal of confusion.
If one guest or expert is a "bull," then the other must be a "bear," to keep things fair. Or, if there is a single guest on air, the host often takes the other side of the issue in order to keep things balanced. Get some sparks between guests, a little argument here or there, and it's even better for the ratings. The bigger the audience, the better the show, that's the way the advertisers see it. It's basic supply and demand.
But this idea of presenting both sides of an issue, while entertaining, informative and seemingly balanced, may paradoxically create a warped perspective of the economy. ...
Mr. Wesbury is chief economist for First Trust Portfolios, LP.
(Excerpt) Read more at opinionjournal.com ...
Great post.
The “All Stars” is my favorite segment on Brit’s show - then the Grapevine.
I think it’s usually a balanced mix.
I get Opinion Journal in my e-mail. I thought this article hit the nail on the head as far as how folks perceive the economy, based on what they hear on the news. If all they hear is negative, what are they supposed to think?
I figure if something interesting is in the news, I'll see it on FR.
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