Dean Baker

Recent Articles

Arctic Oil Nonsense

Proponents of drilling in the Arctic National Wildlife Refuge are happy to make whatever outlandish claims are convenient to advance their cause. A few years ago, they were pushing the line that drilling in the Refuge would generate 500,000-750,000 jobs, citing a study by WEFA, one of the country's leading economic forecasting firms. We did a short analysis showing the faults of this study. When WEFA refused to stand behind its study, this outlandish job claim quickly disappeared from the debate.

The Housing Bubble: Why Did the Media Miss It?

As the housing bubble starts to unwind people will be looking for villains in this economic disaster. There are many, with the list including Alan Greenspan, the bulk of the economics profession, and of course, the reporters covering the housing market.

More Fact Checking Problems at the Washington Post

Last Tuesday, I pointed out that a front page Washington Post article had overstated Mexico's growth in the post-NAFTA era by a factor of five (Mexican Deportee's U.S. Sojourn Illuminates Roots of Current Crisis, 4-17-06:A1). It appears that the Post's problems with arithmetic are continuing.

"Protectionist," a Four Letter Word?

In many economic policy debates, the worst possible adjective is "protectionist." All right thinking people know that protectionism is bad. According to the economic in-crowd, only ignorant and reactionary people support protectionism measures. (The Post gives a nice example of this thinking in a piece explaining how the IMF will act to prevent protectionism in an economic crisis: "IMF Calls for Cooperation Ahead of Imbalances Meeting.")

Inertia, Budget Reporting and Starving Children

I had earlier promised to give my explanation for the fact that articles on the budget fail to put budget numbers in a context that would make the millions, billions and trillions meaningful to readers. While laziness is part of the story, the bigger factor is simply inertia, why change? Reporters may agree that it would be very simple and more informative to express budget numbers as percentages of total spending or dollars (or cents) per person, but this is not how their papers did it last year. Including this information is a change, and doing things differently can put you on the spot. In short, since no one put budget numbers in context last year, no one will do it this year.