Bill Keller, the former editor of the New York Times, has ventured into economic commentary after tutorials from “a few economists respected for the integrity of their science.” Presumably, they all have impeccable Ivy League or Wall Street credentials.
Keller concludes that the state of economics is “rotten” because the “democratization of media has diminished the authority once held — and sometimes abused — by a few big newspapers and broadcasters.”
I, hayseed that I am, had not realized that the New York Times and CBS – not the editors of the American Economic Review, the Journal of Political Economy, or the Quarterly Journal of Economics -- are (or were to Keller’s regret) the true arbiters of what is good or bad economics.
