Index Investing News
Thursday, May 14, 2026
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Journalistic Clichés – Econlib

by Index Investing News
June 23, 2023
in Economy
Reading Time: 2 mins read
A A
0
Home Economy
Share on FacebookShare on Twitter


The Financial Times is one of my favorite newspapers, with lots of good columnists. Rana Foroohar is my least favorite FT columnist. Her columns often attack neoliberalism by citing lots of economic problems that are in fact caused by counterproductive government regulations.

Foroohar recently posted a brief review of a book entitled, The Death of Public School. The first two sentences contain four important errors—can you spot them?

Education used to be a way to get ahead in America. But the defunding of public schools and the rise of private education is increasing, rather than reducing the wealth divide.

1. When I was young, blue color workers often made as much as college professors. My first job as a professor (in 1981) paid $19,300. At the time, there were UAW autoworkers at Michigan plants earning more than that. The obsession with getting into the top schools was much less pronounced in the 20th century, as the education/income gradient was much flatter than today. Thus, the first sentence in Foroohar’s review gets things exactly backward. Education is now a much more important way to get ahead than in earlier decades.

2. Not only have American public schools not been “defunded,” spending on public education has risen over time, even in real terms (and as a share of GDP). Spending in the US is high when compared to other developed countries. Spending is especially high in poor neighborhoods in some of our biggest cities. The quality of education at a given school depends largely on whether the students at that school come from families that emphasize education, not dollars spent. So Foroohar’s second claim is incorrect.

3. There is no “rise of private education” in the US.  The Huffington Post reports that:

Here’s the graph they provide:

4.  And since private education is not on the rise, it hardly seems likely that the rise of private education is increasing the wealth gap.

Well meaning people can have different interpretations of recent trends. But any discussion of those trends should be based on rigorous facts, not lazy clichés.

 



Source link

Tags: ClichésEconlibJournalistic
ShareTweetShareShare
Previous Post

11 Tips Until You Can Quit

Next Post

What to expect when Constellation Brands (STZ) reports Q1 2024 earnings next week

Related Posts

Transcript: Howard Lindzon, Social Leverage

Transcript: Howard Lindzon, Social Leverage

by Index Investing News
May 11, 2026
0

https://www.youtube.com/watch?v=Q12PYx1e-eohttps://www.youtube.com/watch?v=Q12PYx1e-eo     The transcript from this week’s MiB Howard Lindzon, Social Leverage, is below. You can stream and download...

Is Economics Finally Becoming Trustworthy?

Is Economics Finally Becoming Trustworthy?

by Index Investing News
May 7, 2026
0

“There are two things you are better off not watching in the making: sausages and econometric estimates. This is a...

Transcript: Lawrence Calcano, iCapital CEO

Transcript: Lawrence Calcano, iCapital CEO

by Index Investing News
May 3, 2026
0

https://www.youtube.com/watch?v=crZF0Hl9qXEhttps://www.youtube.com/watch?v=crZF0Hl9qXE     The transcript from this week’s, MiB: Lawrence Calcano, iCapital CEO, is below. You can stream and download...

Making Money…Less Useful? – Econlib

Making Money…Less Useful? – Econlib

by Index Investing News
April 29, 2026
0

One of my brothers recently joked that he would love to meet the person who first pitched gift cards. Who...

The limits on Scott Bessent’s Treasury swap lines

The limits on Scott Bessent’s Treasury swap lines

by Index Investing News
April 25, 2026
0

Scott Bessent’s ability to provide dollar swap lines for allies in Asia and the Gulf could be constrained by the...

Next Post
What to expect when Constellation Brands (STZ) reports Q1 2024 earnings next week

What to expect when Constellation Brands (STZ) reports Q1 2024 earnings next week

FBI Investigates Letters With White Powder Sent to Republicans

FBI Investigates Letters With White Powder Sent to Republicans

RECOMMENDED

Real estate industry facing pushback to longstanding rules setting agent commissions on home sales

Real estate industry facing pushback to longstanding rules setting agent commissions on home sales

November 6, 2023
New Zealand’s cyclone death toll at 11, thousands still missing By Reuters

New Zealand’s cyclone death toll at 11, thousands still missing By Reuters

February 19, 2023
Leicester put together one other Italian raid to signal “unpredictable” Fatawu rival

Leicester put together one other Italian raid to signal “unpredictable” Fatawu rival

July 10, 2024
A Monument To Italy’s Historic Past Towers Over The Amalfi Coast

A Monument To Italy’s Historic Past Towers Over The Amalfi Coast

December 8, 2022
David Crosby – The Big Picture

David Crosby – The Big Picture

January 22, 2023
Russia launches rush hour missile attacks on Ukraine By Reuters

Russia launches rush hour missile attacks on Ukraine By Reuters

January 26, 2023
CEO Of Worldcoin Says “Something Like World ID Will Eventually Exist… Whether You Like It Or Not”

CEO Of Worldcoin Says “Something Like World ID Will Eventually Exist… Whether You Like It Or Not”

July 19, 2023
Warren Buffett says Berkshire not planning to buy Occidental Petroleum By Reuters

Warren Buffett says Berkshire not planning to buy Occidental Petroleum By Reuters

May 7, 2023
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In