It's no secret that most of the media, save a few good sources, does an absolutely abysmal job reporting on economics and business news. That's why economist Don Boudreaux makes it a habit to write a letter to the editor of a newspaper every single day. Now, he and another economist, Andrew Morriss, who happens to have the same habit, are pubishing their letters in a new blog called, fittingly Market Correction. Here's the top one, right now:
The Editor, The Christian Science Monitor
To the Editor:
Arguing for farm subsidies, Gerry Roll calls rural areas "the very foundation of American culture" ("Big-farm Subsidies vs. Food Stamps: Whose Plate Will Congress Fill?" Oct. 6). This is a myth. Even as far back as 1900 only 40 percent of Americans lived on farms; today this figure is below three percent.
America, in fact, has long been a commercial, industrial, and urban nation - a country made prosperous by merchants and entrepreneurs - a people made great by their dynamism and modernity - a civilization whose truest symbol is not a barnyard, but its cities' soaring skylines.
Sincerely,
Donald J. Boudreaux
Comments