Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre . . . . . . . . . . . . . email: jpalmer at uwo dot ca

. . . . . . . . . . .Richard Posner should be awarded the next Nobel Prize in Economics . . . . . . . . . . . .

Sunday, December 05, 2004

Robert Barro: The Media have a left-wing bias

Most economists suspected it, but here are some fairly convincing empirical results confirming the left-wing bias of the media.

Particularly striking are the high liberal ratings for the New York Times and CBS Evening News...

Barro predicts,

"...if the political opinions of viewers, listeners, and readers are similar to those of their elected representatives, the political leanings of most of the media are far to the left of those of most of their customers. This mismatch suggests profit opportunities for conservative-oriented, or at least balanced, media outlets. Fox News is probably only the beginning. Maybe the next conservative entrant will be a recreated CBS News."

Yup. People respond to incentives, and if mainstream media are out of touch with their customer base, they won't remain mainstream for long.
(Thanks to Ben for the pointer)
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