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The Economist
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{{short description|English weekly news and international affairs publication}}{{about||the profession|Economist|the Lost episode|The Economist (Lost)|other uses|The Economist (disambiguation)}}{{Multiple issues|{{original research|date=May 2019}}{{primary sources|date=May 2019}}}}{{Use dmy dates|date=April 2019}}{{EngvarB|date=April 2019}}







factoids
| type = Weekly newspaper| format = MagazineJames Wilson (businessman)>James WilsonEconomist Group>The Economist Group| ISSN = 0013-0613Classical liberalismCONTRASTIVE MEDIA ANALYSIS PAGE=51, Social liberalismEconomic liberalismRadical centrismHTTPS://WWW.ECONOMIST.COM/BLOGS/ECONOMIST-EXPLAINS/2013/09/ECONOMIST-EXPLAINS-ITSELF-0>WORK=THE ECONOMISTDATE=2 SEPTEMBER 2013TITLE=TRUE PROGRESSIVISMACCESSDATE=16 OCTOBER 2016, City of Westminster>Westminster,London, United Kingdom| editor = Zanny Minton Beddoeseconomist.com}}PUBLISHER=PRESSGAZETTE.CO.UK, 22 June 2015, }}The Economist is an English-language weekly magazine-format newspaper owned by the Economist Group and edited at offices in London.About us {{snd}} The EconomistNEWS,weblink The Economist, Why does The Economist call itself a newspaper?, 1 September 2013, Locations{{dead link|date=July 2017 |bot=InternetArchiveBot |fix-attempted=yes }}. Economist Group. Retrieved 12 September 2009.Maps {{webarchive|url=https://web.archive.org/web/20110905100803weblink |date=5 September 2011 }}. City of Westminster. Retrieved 28 August 2009. Continuous publication began under its founder James Wilson in September 1843. In 2015, its average weekly circulation was a little over 1.5 million, about half of which were sold in the United States. Pearson PLC held a 50% shareholding via The Financial Times Limited until August 2015. At that time, Pearson sold their share in the Economist. The Agnelli family's Exor paid £287m to raise their stake from 4.7% to 43.4% while the Economist paid £182m for the balance of 5.04m shares which will be distributed to current shareholders.NEWS, West, Karl,weblink The Economist becomes a family affair, The Guardian, London, 15 August 2015, 15 August 2015, Pearson, the education and publishing giant that has held a non-controlling 50% stake since 1928, is selling the holding for £469m. The deal will make Italy's Agnelli family, founders of the Fiat car empire, the largest shareholder, Aside from the Agnelli family, smaller shareholders in the company include Cadbury, Rothschild (21%), Schroder, Layton and other family interests as well as a number of staff and former staff shareholders.NEWS,weblink Agnellis, Rothschilds close in on Economist, 11 August 2015, POLITICO, 1 December 2018, A board of trustees formally appoints the editor, who cannot be removed without its permission. Although The Economist has a global emphasis and scope, about two-thirds of the 75 staff journalists are based in the London borough of Westminster.NEWS,weblink So what's the secret of 'The Economist'?, 27 April 2008, The Independent, London, 26 February 2006, For the year to March 2016, the Economist Group declared operating profit of £61m.WEB, Results at a glance {{!, Economist Group|url =weblink|website = www.economistgroup.com|accessdate = 21 September 2016}}The Economist takes an editorial stance of classical and economic liberalism that supports free trade, globalisation, free immigration and cultural liberalism (such as supporting legal recognition for same-sex marriage or drug liberalisation). The publication has described itself as "a product of the Caledonian liberalism of Adam Smith and David Hume".WEB,weblink Don't leave us this way, 12 July 2014, 26 July 2014, The Economist, It claims an audience containing many influential executives and policy-makers.NEWS,weblink How our readers view The Economist, 27 December 2006, The Economist,weblink" title="web.archive.org/web/20060907230415weblink">weblink 7 September 2006, {{Better source|date=May 2019}} The publication's CEO described this recent global change,{{Clarify|reason=Non sequitur: which global change is this referring to?|date=April 2018}} which was first noticed in the 1990s and accelerated in the beginning of the 21st century as a "new age of Mass Intelligence".WEB,weblink Oberholzer-Gee, Felix, Bharat, N. Anand, Lizzie, Gomez, The Economist, Harvard Business School Case 710-441, July 2010, Hbs.edu, WEB,weblink Oberholzer-Gee, Felix, Bharat, N. Anand, Lizzie, Gomez, The Economist. Harvard Business School Case 710-441, July 2010, PDF, American.edu, yes,weblink" title="web.archive.org/web/20130927201158weblink">weblink 27 September 2013,

History

(File:The Economist May 16 1846.png|thumb|Front page of The Economist on 16 May 1846)The Economist was founded by the British businessman and banker James Wilson in 1843, to advance the repeal of the Corn Laws, a system of import tariffs.From the Corn Laws to Your Mailbox, The MIT Press Log, 30 January 2007. Retrieved 11 June 2010. A prospectus for the "newspaper" from 5 August 1843 enumerated thirteen areas of coverage that its editors wanted the publication to focus on:NEWS,weblink Prospectus, 27 December 2006, The Economist, 5 August 1843,
  1. Original leading articles, in which free-trade principles will be most rigidly applied to all the important questions of the day.
  2. Articles relating to some practical, commercial, agricultural, or foreign topic of passing interest, such as foreign treaties.
  3. An article on the elementary principles of political economy, applied to practical experience, covering the laws related to prices, wages, rent, exchange, revenue and taxes.
  4. Parliamentary reports, with particular focus on commerce, agriculture and free trade.
  5. Reports and accounts of popular movements advocating free trade.
  6. General news from the Court of St. James's, the Metropolis, the Provinces, Scotland, and Ireland.
  7. Commercial topics such as changes in fiscal regulations, the state and prospects of the markets, imports and exports, foreign news, the state of the manufacturing districts, notices of important new mechanical improvements, shipping news, the money market, and the progress of railways and public companies.
  8. Agricultural topics, including the application of geology and chemistry; notices of new and improved implements, state of crops, markets, prices, foreign markets and prices converted into English money; from time to time, in some detail, the plans pursued in Belgium, Switzerland, and other well-cultivated countries.
  9. Colonial and foreign topics, including trade, produce, political and fiscal changes, and other matters, including exposés on the evils of restriction and protection, and the advantages of free intercourse and trade.
  10. Law reports, confined chiefly to areas important to commerce, manufacturing, and agriculture.
  11. Books, confined chiefly, but not so exclusively, to commerce, manufacturing, and agriculture, and including all treatises on political economy, finance, or taxation.
  12. A commercial gazette, with prices and statistics of the week.
  13. Correspondence and inquiries from the news magazine's readers.
Wilson described it as taking part in "a severe contest between intelligence, which presses forward, and an unworthy, timid ignorance obstructing our progress", a phrase which still appears on its masthead as the publication's mission.NEWS,weblink Opinion: leaders and letters to the Editor, The Economist, 1 May 2011, It has long been respected as "one of the most competent and subtle Western periodicals on public affairs".JOURNAL, The Politburo Through Western Eyes, 159–185, Nathan Leites, World Politics, 1952, 4, 2, 2009044, 10.2307/2009044, {{subscription required}} The publication was a major source of financial and economic information for Karl Marx in the formulation of socialist theory;BOOK,weblink Karl Marx: His Life and Thought, McLellan, David, 1 December 1973, Springer, 9781349155149, en, he wrote: "the London Economist, the European organ of the aristocracy of finance, described most strikingly the attitude of this class."Karl Marx, The Eighteenth Brumaire of Louis Bonaparte, VI (1852)Its logo was designed in 1959 by Reynolds Stone.In January 2012, The Economist launched a new weekly section devoted exclusively to China, the first new country section since the introduction of a section about the United States in 1942.WEB, The Economist Launches New China Section,weblink Asian Media Journal, yes,weblink" title="web.archive.org/web/20120201210032weblink">weblink 1 February 2012, In August 2015, The Economist Group bought back 5 million of its shares (worth $284 million) from Pearson. Pearson's remaining shares (worth $447 million) would be sold to Exor.NEWS,weblink Pearson Unloads $731 Million Stake in the Economist, HuffPost, 12 August 2015, 15 August 2015, NEWS, West, Karl,weblink The Economist becomes a family affair, The Guardian, London, 15 August 2015, 15 August 2015, Pearson, the education and publishing giant that has held a non-controlling 50% stake since 1928, is selling the holding for £469m. The deal will make Italy's Agnelli family, founders of the Fiat car empire, the largest shareholder,

List of editors

File:PSM V12 D400 Walter Bagehot.jpg|thumb|Walter BagehotWalter BagehotThe editors of The Economist have been:

Opinions

File:Economist building London4.jpg|thumb|The Economist Building (until 2017), St James's Street, photo by Alison and Peter SmithsonAlison and Peter SmithsonWhen the news magazine was founded, the term "economism" denoted what would today be termed "economic liberalism". The Economist generally supports free trade, globalisation,NEWS,weblink Globalisation: The redistribution of hope, 16 December 2010, The Economist, 23 April 2011, and free immigration. The activist and journalist George Monbiot has described it as neo-liberal while occasionally accepting the propositions of Keynesian economics where deemed more "reasonable".NEWS, George Monbiot,weblink George Monbiot, Punitive – and it works, The Guardian, 11 January 2005, 25 May 2012, London, The news magazine favours a carbon tax to fight global warming.JOURNAL,weblink Buttonwood: Let them heat coke, The Economist, 14 June 2008, 25 May 2012, According to one former editor, Bill Emmott, "the Economist{{'}}s philosophy has always been liberal, not conservative".NEWS,weblink Time for a referendum on the monarchy, 27 December 2006, Comment, 8 December 2000, Bill, Emmot, London, Individual contributors take diverse views. The Economist favours the support, through central banks, of banks and other important corporations. This principle can, in a much more limited form, be traced back to Walter Bagehot, the third editor of The Economist, who argued that the Bank of England should support major banks that got into difficulties. Karl Marx deemed The Economist the "European organ" of "the aristocracy of finance".BOOK, Marx, Karl, The Eighteenth Brumaire of Louis Bonaparte, 1852,weblink The news magazine has also supported liberal causes on social issues such as recognition of gay marriages,Let them wed, cover article on 4 January 1996 legalisation of drugs,weblink" title="web.archive.org/web/20100602002643weblink">How to stop the drug wars, cover article on 7 March 2009. The publication calls legalisation "the least bad solution". criticises the US tax model,JOURNAL,weblink Tax reform in America: A simple bare necessity, The Economist, 25 May 2012, and seems to support some government regulation on health issues, such as smoking in public,JOURNAL,weblink Smoking and public health: Breathe easy, The Economist, 10 June 2010, 25 May 2012, as well as bans on spanking children."Spare The Rod, Say Some", The Economist, 31 May 2008. The Economist consistently favours guest worker programmes, parental choice of school, and amnestiesSense, not Sensenbrenner, The Economist, 30 March 2006 and once published an "obituary" of God.NEWS, Obituary: God, The Economist, 23 December 1999,weblink The Economist also has a long record of supporting gun control.NEWS,weblink Lexington: Reflections on Virginia Tech, 8 April 2009, The Economist, 13 April 2011, The Economist has endorsed the Labour Party (in 2005) the Conservative Party (in 2010 and 2015),"The Economist backs the Conservatives", The Guardian (PA report), 29 April 2010.WEB, Who should govern Britain?,weblink The Economist, 11 May 2015, and the Liberal Democrats (in 2017) at general election time in Britain, and both Republican and Democratic candidates in the United States. Economist.com puts its stance this way:{{quotation|What, besides free trade and free markets, does The Economist believe in? "It is to the Radicals that The Economist still likes to think of itself as belonging. The extreme centre is the paper's historical position". That is as true today as when Crowther [Geoffrey, Economist editor 1938–1956] said it in 1955. The Economist considers itself the enemy of privilege, pomposity and predictability. It has backed conservatives such as Ronald Reagan and Margaret Thatcher. It has supported the Americans in Vietnam. But it has also endorsed Harold Wilson and Bill Clinton, and espoused a variety of liberal causes: opposing capital punishment from its earliest days, while favouring penal reform and decolonisation, as well as—more recently—gun control and gay marriage.NEWS,weblink About us, 21 September 2016, The Economist, 18 November 2010, }}The Economist frequently accuses figures and countries of corruption or dishonesty. In recent years, for example, it criticised Paul Wolfowitz, World Bank president; Silvio Berlusconi, Italy's Prime Minister (who dubbed it The Ecommunist);WEB,weblink Report of Rome anti-war demo on Saturday 24th with photos, 27 December 2006, Independent Media Center, Laurent-Désiré Kabila, the late president of the Democratic Republic of the Congo; Robert Mugabe, the former head of government in Zimbabwe; and, recently, Cristina Fernández de Kirchner, the president of Argentina.NEWS, Cristina in the land of make believe, The Economist, 1 May 2008,weblink The Economist also called for Bill Clinton's impeachment and, after the emergence of the Abu Ghraib torture and prisoner abuse,NEWS,weblink Resign Rumsfeld, 27 December 2006, The Economist, 6 May 2004, for Donald Rumsfeld's resignation. Though The Economist initially gave vigorous support for the US-led invasion of Iraq, it later called the operation "bungled from the start" and criticised the "almost criminal negligence" of the Bush Administration's handling of the war, while maintaining, in 2007, that pulling out in the short term would be irresponsible.NEWS,weblink Mugged by reality, 9 April 2007, The Economist, 22 March 2007, In the 2004 US election, the editors "reluctantly" backed John Kerry.NEWS,weblink Crunch time in America, 27 December 2006, The Economist, 2 November 2000, NEWS,weblink The incompetent or the incoherent?, 27 December 2006, The Economist, 28 October 2004, In the 2008 US election The Economist endorsed Barack Obama, while using the front cover of the issue published on the eve of the election to promote his candidacy.NEWS,weblink The Economist, It's time, 30 October 2008, In the 2012 US election, Barack Obama was again endorsed: the editorial said that they preferred Obama on the economy, foreign policy and health care, but criticised him for running a negative campaign against Romney and for a "...poor appreciation of commerce."NEWS, Our American Endorsement. Which one?,weblink The Economist, 3 November 2012, 4 November 2012, In an editorial marking its 175th anniversary, The Economist criticised adherents to liberalism for becoming too inclined to protect the political status quo rather than pursue reform.NEWS,weblink The Economist at 175, 17 September 2018, The Economist, 13 September 2018, {{Non-primary source needed|date=May 2019}} The paper called on liberals to return to advocating for bold political, economic and social reforms: protecting free markets, land and tax reform in the tradition of Georgism, open immigration, a rethink of the social contract with more emphasis on education, and a revival of liberal internationalism.

Tone and voice

Though it has many individual columns, by tradition and current practice the magazine ensures a uniform voice—aided by the anonymity of writers—throughout its pages,NEWS,weblink Style Guide, 8 February 2013, The Economist, 27 September 2011, as if most articles were written by a single author, which may be perceived to display dry, understated wit, and precise use of language.NEWS,weblink The Economist – Tone, 27 December 2006, The Economist, NEWS,weblink Johnson, 27 December 2006, The Economist, yes,weblink" title="web.archive.org/web/20061219221031weblink">weblink 19 December 2006, The Economist has traditionally—albeit not always consistently—persisted in referring to itself as a "newspaper", rather than a newsmagazine, due to the gradual pace of its transformation in format from newsprint to glossy colour (articles were printed on the front page into the 1950s) in addition to its general focus on current affairs as opposed to specialist subjects.The Economist{{'}}s treatment of economics presumes a working familiarity with fundamental concepts of classical economics. For instance, it does not explain terms like invisible hand, macroeconomics, or demand curve, and may take just six or seven words to explain the theory of comparative advantage. Articles involving economics do not presume any formal training on the part of the reader and aim to be accessible to the educated layman. It usually does not translate short French (and German) quotes or phrases. It does describe the business or nature of even well-known entities, writing, for example, "Goldman Sachs, an investment bank".WEB,weblink A bank by any other name, 16 September 2008, The Economist, {{dead link|date=April 2018 |bot=InternetArchiveBot |fix-attempted=yes }}The Economist is known for its extensive use of word play, including puns, allusions, and metaphors, as well as alliteration and assonance, especially in its headlines and captions. This can make it difficult to understand for those who are not native English speakers.Richard J. Alexander, "Article Headlines in The Economist: An Analysis of Puns, Allusions and Metaphors", ''Arbeiten aus Anglistik und Amerikanistik 11:2:159-177 (1986) {{jstor|43023400}}

Editorial anonymity

Articles often take a definite editorial stance and almost never carry a byline. Not even the name of the editor (since 2015, Zanny Minton BeddoesNEWS,weblink Economist magazine appoints its first female editor, Stuart Kemp, The Guardian, London, 29 June 2015, ) is printed in the issue. It is a long-standing tradition that an editor's only signed article during their tenure is written on the occasion of their departure from the position. The author of a piece is named in certain circumstances: when notable persons are invited to contribute opinion pieces; when journalists of The Economist compile special reports (previously known as surveys); for the Year in Review special edition; and to highlight a potential conflict of interest over a book review. The names of The Economist editors and correspondents can be located on the media directory pages of the website.NEWS,weblink Media directory, The Economist, 25 May 2012, Online blog pieces are signed with the initials of the writer and authors of print stories are allowed to note their authorship from their personal web sites.WEB,weblink Why The Economist has no bylines, Andreaskluth.org, 25 May 2012, "This approach is not without its faults (we have four staff members with the initials "J.P.", for example) but is the best compromise between total anonymity and full bylines, in our view", wrote one anonymous writer of The Economist.WEB,weblink Why are The Economist's writers anonymous?, The Economist, 25 September 2016, The editors say this is necessary because "collective voice and personality matter more than the identities of individual journalists"NEWS,weblink The Economist – About us, 11 June 2012, The Economist, 18 November 2010, and reflects "a collaborative effort".WEB,weblink Economist Editor Micklethwait brings his global perspective to the Twin Cities, 16 September 2008, 29 April 2008, MinnPost.com,weblink" title="web.archive.org/web/20080705161308weblink">weblink 5 July 2008, yes, In most articles, authors refer to themselves as "your correspondent" or "this reviewer". The writers of the titled opinion columns tend to refer to themselves by the title (hence, a sentence in the "Lexington" column might read "Lexington was informed...").The American author Michael Lewis has criticised the magazine's editorial anonymity, labelling it a means to hide the youth and inexperience of those writing articles. In 1991 Lewis quipped: "The magazine is written by young people pretending to be old people ... If American readers got a look at the pimply complexions of their economic gurus, they would cancel their subscriptions in droves".WEB,weblink The Economics of the Colonial Cringe: Pseudonomics and the Sneer on the Face of The Economist., 27 April 2008, The Washington Post, Although individual articles are written anonymously, there is no secrecy over who the writers are as they are listed on The Economist{{'s}} website, which also provides summaries of their careers and academic qualifications.WEB, Media directory,weblink The Economist, 31 December 2017, John Ralston Saul describes The Economist as a "...magazine which hides the names of the journalists who write its articles in order to create the illusion that they dispense disinterested truth rather than opinion. This sales technique, reminiscent of pre-Reformation Catholicism, is not surprising in a publication named after the social science most given to wild guesses and imaginary facts presented in the guise of inevitability and exactitude. That it is the Bible of the corporate executive indicates to what extent received wisdom is the daily bread of a managerial civilization."WEB,weblink The Doubter's Companion: A Dictionary of Aggressive Common Sense, Amazon.com, 9 August 2013,

Circulation

Each of The Economist issue's official date range is from Saturday to the following Friday. The Economist posts each week's new content online at approximately 2100 Thursday evening UK time, ahead of the official publication date.NEWS, The Economist launches on Android,weblink 26 February 2018, The Economist, 2 August 2011, In 1877, the publication's circulation was 3,700, and in 1920 it had risen to 6,000. Circulation increased rapidly after 1945, reaching 100,000 by 1970.Circulation is audited by the Audit Bureau of Circulations (ABC). From around 30,000 in 1960 it has risen to near 1 million by 2000 and by 2016 to about 1.3 million.WEB,weblink The Economist Plans to Double Circulation Profits in 5 Years, Digiday, Lucinda Southern, 17 February 2016, 7 July 2016, Sales inside North America were in 2007 around 54 per cent of the total, with sales in the UK making up 14 per cent of the total and continental Europe 19 per cent. The Economist claims sales, both by subscription and at newsagents, in over 200 countries. Of its American readers, two out of three earn more than $100,000 a year.WEB,weblink 'Economist' Magazine Wins American Readers, 8 March 2006, 27 December 2006, National Public Radio, NPR, The Economist once boasted about its limited circulation. In the early 1990s it used the slogan "The Economist – not read by millions of people". "Never in the history of journalism has so much been read for so long by so few," wrote Geoffrey Crowther, a former editor.NEWS,weblinkaccessdate=14 May 2008work=The Chicago Tribunelast=Moseley, The Economist Newspaper Limited is a wholly owned subsidiary of The Economist Group. The publications of the group include the CFO brand family as well as the annual The World in..., the lifestyle bimonthly 1843, European Voice, and Roll Call. Sir Evelyn Robert de Rothschild was Chairman of the company from 1972 to 1989.

Letters

The Economist frequently receives letters from senior businesspeople, politicians, ambassadors, and from spokespeople for various government departments, non-governmental organisations and lobbies. Well-written or witty responses from anyone are considered, and controversial issues frequently produce a torrent of letters. For example, the survey of corporate social responsibility, published January 2005, produced largely critical letters from Oxfam, the World Food Programme, United Nations Global Compact, the Chairman of BT Group, an ex-Director of Shell and the UK Institute of Directors.WEB,weblink Compilation: Full text of responses to Economist survey on Corporate Social Responsibility (January–February 2005), 3 February 2007, Business & Human Rights, Many of the letters published are critical of its stance or commentary. After The Economist ran a critique of Amnesty International and human rights in general in its issue dated 24 March 2007, its letters page ran a vibrant reply from Amnesty, as well as several other letters in support of the organisation, including one from the head of the United Nations Commission on Human Rights.NEWS,weblink Letters: On Amnesty International and human rights, Iraq, tax breaks 4 April 2007, 9 November 2007, The Economist, 4 April 2007, Rebuttals from officials within regimes such as the Singapore government are routinely printed, to comply with local right-of-reply laws without compromising editorial independence.BOOK,weblink The Media Enthralled: Singapore Revisited, Francis T. Seow, 1998, 171–175, Lynne Rienner Publishers, 25 May 2012, It is extremely rare for any comment by The Economist to appear alongside any published letter. Letters published in the news magazine are typically between 150 and 200 words long (and began with the salutation "Sir" until the editorship of Zanny Minton Beddoes, the first female editor; they now have no salutation). Previous to a change in procedure, all responses to on-line articles were usually published in "The Inbox".NEWS,weblink Latest blog posts, The Economist, 9 August 2013, Comments can now be made directly under each article.

Features

File:Big Mac index 50USD 2columns.png|thumb|Visualisation of the Big Mac IndexBig Mac IndexThe Economist{{'}}s primary focus is world events, politics and business, but it also runs regular sections on science and technology as well as books and the arts. Approximately every two weeks, the publication includes an in-depth special reportNEWS,weblink Special reports, The Economist, 9 August 2013, (previously called surveys) on a given topic. The five main categories are Countries and Regions, Business, Finance and Economics, Science and Technology, and Other. Every three months, it publishes a technology report called Technology QuarterlyNEWS, Stay informed today and every day,weblink Technology Quarterly, The Economist, 1 June 2013, 9 August 2013, or TQ, a special section focusing on recent trends and developments in science and technology.Since July 2007, there has also been a complete audio edition of the news magazine available 9 pm London time on Thursdays.NEWS, Allen, Katie,weblink Economist launches audio magazine, The Guardian, London, 11 July 2007, 21 September 2016, The audio version of The Economist is produced by the production company Talking Issues. The company records the full text of the news magazine in mp3 format, including the extra pages in the UK edition. The weekly 130 MB download is free for subscribers and available for a fee for non-subscribers.The publication's writers adopt a tight style that seeks to include the maximum amount of information in a limited space.NEWS,weblink The Economist style guide, 27 December 2006, The Economist, David G. Bradley, publisher of The Atlantic, described the formula as "a consistent world view expressed, consistently, in tight and engaging prose".WEB,weblink A Seven Year Ambition, mediabistro.com, yes,weblink" title="web.archive.org/web/20081010200210weblink">weblink 10 October 2008, There is a section of economic statistics. Tables such as employment statistics are published each week and there are special statistical features too. It is unique among British weeklies in providing authoritative coverage of official statistics and its rankings of international statistics have been decisive.BOOK,weblink 88, Great expectations—the social sciences in Great Britain, Commission on the Social Sciences, 2004, 978-0-7658-0849-3, In addition, The Economist is known for its Big Mac Index, which it first published in 1986, which uses the price of the hamburger in different countries as an informal measure of the purchasing power of currencies.BOOK,weblink 396, International Economics, Paul R. Krugman, Maurice Obstfeld, Pearson Education, 2009, 978-0-321-55398-0, JOURNAL, The Economist, On the Hamburger Standard, 6–12 September 1986, The publication runs several opinion columns whose names reflect their topic:
  • Analects (China) – named after The Analects, a collection of Confucian sayings, this column was established in February 2012, and was later discontinued in November 2014 and replaced by online China coverage.
  • Babbage (Technology) – named for the inventor Charles Babbage, this column was established in March 2010 and focuses on various technology related issues.
  • Bagehot (Britain) – named for Walter Bagehot {{IPAc-en|ˈ|b|æ|dÊ’|É™|t}}, 19th-century British constitutional expert and early editor of The Economist. From July 2010NEWS, Charlemagne moves town,weblink The Economist, 30 June 2010, 26 March 2014, until June 2012NEWS, Britain's cheering gloom,weblink The Economist, 30 June 2012, 31 August 2012, it was written by David Rennie. Since April 2017 it has been written by Adrian Wooldridge.
  • Banyan (Asia) – named for the banyan tree, this column was established in April 2009 and focuses on various issues across the Asian continent, and is written by Dominic Ziegler.
  • Baobab (Africa & Middle East) – named for the baobab tree, this column was established in July 2010 and focuses on various issues across the African continent.
  • Bartleby (Work and management) – named after the titular character of a Herman Melville short story, this column was established in May 2018.
  • Bello (Latin America) – named for Andrés Bello, a Venezuelan diplomat, poet, legislator and philosopher, who lived and worked in Chile.NEWS, The Bello column: Choosing a Name,weblink The Economist, 25 March 2014, 30 January 2014, The column was established in January 2014 and is written by Michael Reid.
  • Buttonwood (Finance) – named for the buttonwood tree where early Wall Street traders gathered. Until September 2006 this was available only as an on-line column, but it is now included in the print edition. It is written by Philip Coggan.
  • Chaguan (China) – named for Chaguan, the traditional Chinese Tea houses in Chengdu, this column was established on 13 September 2018.NEWS,weblink The Economist website, The Economist's new China column: Chaguan, 13 September 2018, 12 November 2018,
  • Charlemagne (Europe) – named for Charlemagne, Emperor of the Frankish Empire. It is written by Jeremy CliffePeople: Jeremy Cliffe{{snd}} Economist Media Directory. Retrieved 14/1/19 and earlier it was written by David Rennie (2007–2010) and by Anton La GuardiaNEWS, Media Directory,weblink The Economist, 13 June 2012, 9 June 2011, (2010–2014).
  • Erasmus (Religion and public policy) – named after the Dutch Christian humanist Erasmus.
  • Game Theory (Sport) – named after the science of predicting outcomes in a certain situation, this column focuses on "sports major and minor" and "the politics, economics, science and statistics of the games we play and watch".
  • Johnson (language) – named for Samuel Johnson, this column returned to the publication in 2016 and covers language. It is written by Robert Lane Greene.
  • Lexington (United States) – named for Lexington, Massachusetts, the site of the beginning of the American Revolutionary War. From June 2010 until May 2012 it was written by Peter David, until his death in a car accident.NEWS,weblink The Economist website, Lexington: Peter David, 11 May 2012, 12 May 2012,
  • Prospero (Books and arts) – named after the character from William Shakespeare's play The Tempest, this column reviews books and focuses on arts-related issues.
  • Schumpeter (Business) – named for the economist Joseph Schumpeter, this column was established in September 2009 and is written by Patrick Foulis.
Other regular features include:
  • Face Value, about prominent people in the business world
  • Free Exchange, a general economics column, frequently based on academic research, replaced the column Economics Focus in January 2012
  • An obituary. Since 1997 it has been written by Ann Wroe.NEWS,weblink An Interview with Ann Wroe, Obituaries Writer for The Economist, 6 June 2014, 21 December 2014,
  • sections on science and the arts
The news magazine goes to press on Thursdays, between 6 pm and 7 pm GMT, and is available at newsagents in many countries the next day. It is printed at seven sites around the world. Known on their website as "This week's print edition", it is available online, albeit with only the first five viewed articles being free (and available to subscribers only mid-October 2009 – 2010).The Economist published in 2015 its first US college rankings, focused on comparable economical advantages defined as 'the economic value of a university is equal to the gap between how much its students subsequently earn, and how much they might have made had they studied elsewhere'. Based on set of strict criteria sourced from US Department of Education ("College Scorecard") with relevant 'expected earnings' and multiple statistics applied in calculation of 'median earnings' conclusive evaluation method has been applied to run the scorecard's earnings data through a multiple regression analysis, a common method of measuring the relationships between variables.WEB,weblink The Economist "The value of university: Our first-ever college rankings", The Economist, 29 October 2015, The Economist also produces the annual The World in [Year] publication. It also sponsors a writing award.

The Economist Awards

Innovation Awards

(File:Economist innovation awards logo.png|thumb|Innovation Awards logo)The Economist sponsors the yearly "Economist Innovation Awards", in the categories of bioscience, computing and communications, energy and the environment, social and economic innovation, business-process innovation, consumer products, and a special "no boundaries" category.WEB,weblink Economist Innovation Awards Categories, The Economist Group, 25 May 2012, yes,weblink" title="web.archive.org/web/20130117061347weblink">weblink 17 January 2013, The awards have been held since 2002. Nominations are held between 2 and 30 April. The award ceremony is then hosted on 15 November. Choices are based on the following factors:WEB,weblink Economist Innovation Awards Nomination Process, Economistconferences.co.uk, 4 May 2012, 25 May 2012, yes,weblink" title="web.archive.org/web/20120507204053weblink">weblink 7 May 2012,
  • How much revenue their innovation has made their company or its economic impact on a specific good cause or society in general
  • The effect their work has had on the marketplace (or if it's created a whole new marketplace altogether)
  • The impact their innovation has had on a new type of science or technology

Writing prize

In 1999, The Economist organised a global futurist writing competition, The World in 2050. Co-sponsored by Royal Dutch/Shell, the competition included a first prize of US$20,000 and publication in The Economist{{'}}s annual flagship publication, The World In.NEWS,weblink What is your vision of the future?, New Straights Times, 22 April 2000, Over 3,000 entries from around the world were submitted via a website set up for the purpose and at various Royal Dutch Shell offices worldwide.The judging panel included Bill Emmott, Esther Dyson,NEWS, Angel Investor Esther Dyson Increases Dosage in Health Startups,weblink Bloomberg News, 26 December 2012, Sir Mark Moody-Stuart (then-chairman of Royal Dutch Shell), and Matt Ridley (a British scientist and member of the House of Lords).NEWS, Getting better all the time,weblink The Economist, 13 May 2010,

Censorship

Sections of The Economist criticising authoritarian regimes are frequently removed from the magazine by the authorities in those countries. The Economist regularly has difficulties with the ruling party of Singapore, the People's Action Party, which had successfully sued it, in a Singaporean court, for libel.WEB,weblink Inconvenient truths in Singapore, 31 January 2007, Asia Times, Like many other publications, The Economist is subjected to censorship in India whenever it depicts a map of Kashmir. The maps are stamped by Indian Customs officials as being "neither correct, nor authentic". Issues are sometimes delayed, but not stopped or seized.NEWS,weblink Censorship in India, The Economist, 7 December 2010, On 15 June 2006, Iran banned the sale of The Economist when it published a map labelling the Persian Gulf simply as Gulf—a choice that derives its political significance from the Persian Gulf naming dispute.WEB,weblink Iran bans The Economist over map, 31 January 2007, The Jerusalem Post, In a separate incident, the government of Zimbabwe went further and imprisoned The Economist{{'}}s correspondent there, Andrew Meldrum. The government charged him with violating a statute on "publishing untruth" for writing that a woman was decapitated by supporters of the ruling Zimbabwe African National Union – Patriotic Front party. The decapitation claim was retractedWEB,weblink Guardian and RFI correspondent risks two years in jail, 2 April 2014, Reporters Without Borders, yes,weblink" title="web.archive.org/web/20090404211952weblink">weblink 4 April 2009, and allegedly fabricated by the woman's husband. The correspondent was later acquitted, only to receive a deportation order.On 19 August 2013, The Economist disclosed that the Missouri Department of Corrections had censored its issue of 29 June 2013. According to the letter sent by the department, prisoners were not allowed to receive the issue because "1. it constitutes a threat to the security or discipline of the institution; 2. may facilitate or encourage criminal activity; or 3. may interfere with the rehabilitation of an offender".NEWS, The Economist in prison: About that missing issue,weblink The Economist, 2 April 2014, 19 August 2013,

Criticism, accusation and praise

In 1991, James Fallows argued in The Washington Post that The Economist used editorial lines that contradicted the news stories they purported to highlight. In 1999, Andrew Sullivan complained in The New Republic that it uses "marketing genius"NEWS,weblink London Fog, 2 September 2014, to make up for deficiencies in analysis and original reporting, resulting in "a kind of Reader's Digest"NEWS,weblink Not so groovy., 27 April 2008, The New Republic, London, 14 June 1999, for America's corporate elite.WEB, Finkel, Rebecca,weblink Nasty barbs fly between New Republic and Economist, July 1999, 27 April 2008, Media Life,weblink" title="web.archive.org/web/20151107024913weblink">weblink 7 November 2015, yes, Although he acknowledged that the magazine's claim about the dotcom bubble bursting would probably be accurate in the long run (the bubble burst in the US market two years later),WEB,weblink Effects of Recession and Dot Com Bubble, Data and Investment Consult, 8 May 2011, Sullivan pointed out that the magazine greatly exaggerated the danger the US economy was in after the Dow Jones fell to 7,400 during the 1998 Labor Day weekend. He also said that The Economist is editorially constrained because so many scribes graduated from the same college at Oxford University, Magdalen College. The Guardian wrote that "its writers rarely see a political or economic problem that cannot be solved by the trusted three-card trick of privatisation, deregulation and liberalisation".NEWS, Stern, Stefan, 21 August 2005, Economist thrives on female intuition,weblink The Guardian, London, 2 January 2013, In 2008, Jon Meacham, former editor of Newsweek and a self-described "fan", criticised The Economist{{'s}} focus on analysis over original reporting.NEWS, Jon Meacham Wants Newsweek to Be More Like Hayes' Esquire,weblink The New York Observer,weblink" title="web.archive.org/web/20080522125448weblink">weblink 22 May 2008, 27 April 2008, In 2012, The Economist was accused of hacking into the computer of Justice Mohammed Nizamul Huq of the Bangladesh Supreme Court, leading to his resignation as the chairman of the International Crimes Tribunal.MAGAZINE, Discrepancy in Dhaka,weblink The Economist, 8 December 2012, NEWS, Economist accused of hacking ICT judge's computer,weblink The Washington Post, 9 December 2012, {{dead link|date=August 2016}}NEWS, Hossain, Farid, 9 December 2012, Economist magazine faces contempt in Bangladesh,weblink HuffPost, Associated Press, NEWS, Bangladeshi war crimes tribunal issues notice to The Economist,weblink The Indian Express, 6 December 2012, NEWS, Tribunal chief's net talks, mail hacked,weblink The Daily Star (Bangladesh), Daily Star, 7 December 2012, MAGAZINE, The trial of the birth of a nation,weblink The Economist, 15 December 2012, The magazine denied the accusations.In 2014, the magazine withdrew a harshly-criticised review of a book by Edward Baptist on slavery and American capitalism. The Economist had complained that "[a]lmost all the blacks in his book are victims, almost all the whites villains".NEWS, Blood cotton,weblink The Economist, 6 September 2014, Baptist attributed the harsh review to the magazine's adherence to "free-market fundamentalist" theories, "the idea that everything would be better if measured first and last by its efficiency at producing profit".Edward Baptist (7 September 2014). What the Economist Doesn't Get About Slavery â€“ and My Book. Politico. Retrieved 20 June 2015.

Praise and accolades

In 2005, the Chicago Tribune named it the best English-language magazine noting its strength in international reporting "where it does not feel moved to cover a faraway land only at a time of unmitigated disaster" and that it kept a wall between its reporting and its more conservative editorial policies.Entertainment: 50 Best Magazines, Chicago Tribune, 15 June 2006.

Notes

{{notelist}}

References

{{reflist}}

Further reading

  • Edwards, Ruth Dudley (1993), The Pursuit of Reason: The Economist 1843–1993, London: Hamish Hamilton, {{ISBN|0-241-12939-7}}
  • BOOK, Media Monoliths, Mark Tungate, 194–206, The Economist, Kogan Page Publishers, 2004, 978-0-7494-4108-1,
  • Arrese, Angel (1995), La identidad de The Economist, Pamplona: Eunsa. {{ISBN|9788431313739}}. (preview)

External links

{{Commons category|The Economist}}{{Spoken Wikipedia|The_Economist.ogg|12 July 2006}} {{The Economist Group}}{{Rothschilds}}{{Authority control}}

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