Sunday, August 21, 2005
Articles: Google, Newspaper Online Revenue, Economic Reporting, the NYT Finally Learns About Gas Price Inflation
Newspaper online revenue growing significantly
I often write about how the press seems all to anxious to poo-poo good economic news. This report discusses how good economic news is almost always portrayed as having a dark underside.
The idea that "balance" is to be sure you look at things negatively is quite unfortunate. "Balance" refers to policy discussions. Facts should be facts. I can't help but be reminded of the Monty Python sketch called "The Argument," the text of which can be found at http://www.jumpstation.ca/recroom/comedy/python/argument.html
Mere contradiction is not analysis, nor is it "balance." In the end, a strong economy will outweigh its news reporting. But if you report things negatively for a long enough time, eventually you will be right as all things economic have cycles. The adage "a stopped clock is right twice a day" comes to mind.
Speaking of balance, the New York Times FINALLY published a chart showing inflation-adjusted gas prices, and demonstrating that we are not at historic highs.
You can see the chart at http://bigpicture.typepad.com/comments/2005/08/chart_of_the_we_3.html in case the NYT article is not accessible.
The NYT link is http://www.nytimes.com/2005/08/13/national/13gas.html?ex=1281585600&en=7f335cd80c208515&ei=5090&partner=rssuserland&emc=rss
The graphic is at http://www.nytimes.com/imagepages/2005/08/12/national/20050813gas_graphic.html
but you may need to access the article first.