Friday, July 06, 2007

An empirical analysis of the past and present economies

BizzyBlog takes a close look at the economic stewardship of the present administration and its predecessors and makes this observation on journalistic malpractice:
...Many, if not most, exclusive consumers of Old Media have no idea what has really been happening in the economy. Here’s just one small example of the distorted economic coverage Old Media has engaged in. On February 28, the New York Times’ David Leonhardt claimed that the economy’s manufacturing sector was in recession (the TimeSelect abstract claims the entire country was in recession, though Leonhardt’s original did not). In the four-plus months since Leonhardt’s report, ISM has issued 5 reports for the months of February through June. All have come in as expansions. Though one can’t be certain because of the TimeSelect firewall, searches of the Times on “manufacturing recession” and “Leonhardt manufacturing” (both without quotes) appear to indicate that the Times reporter has never retracted his recession call...


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