The Economist Scores Big with the TLDR Crowd

Source: Cato Institute
by Norbert Michel

Last week, the British publication The Economist piled on to the Fed with an article titled Why the Federal Reserve Has Made a Historic Mistake on Inflation. I’m not sure which was worse, the article itself or the reaction on EconTwitter. As Politico’s Morning Money pointed out, the Twitter reaction was largely about the headline and the magazine cover. At first, this bothered me as part of the ‘nobody reads anything anymore’ trend. But it turns out that the headline is the best thing about the article. The article is little more than a tedious rant, weighed down by discontinuous jumps and non sequiturs. It is a list of pedestrian complaints devoid of substance or serious policy alternatives, and it isn’t until the middle of the page that one reads anything about the COVID-19 pandemic and government shutdowns.” (04/28/22)