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Thu Dec 13, 2012, 12:48 PM

Why is the Failed Monti a “Technocrat” and the Successful Correa a “Left-Leaning Economist”?

Why is the Failed Monti a “Technocrat” and the Successful Correa a “Left-Leaning Economist”?
Thursday, 13 December 2012 10:17 By Bill Black, New Economic Perspectives | News Analysis

The New York Times produces profiles of national leaders like Italy’s Mario Monti and Ecuador’s Rafael Correa. I invite readers to contrast the worshipful treatment accorded Monti with the Correa profile. The next time someone tells you the NYT is a “leftist” paper you can show them how far right it is on financial issues.

The NYT’s slant in describing Monti as a “technocrat” and Correa as a “left-leaning economist” is typical of the dominant media. Monti and Correa both have doctorates in economics from U.S. universities and both have been professors of economics. Why does the NYT treat Monti reverentially and Correa dismissively?

There are a series of factors that the U.S. media normally uses to judge relative merit among those with elite qualifications and national leaders. The media normally values most highly national leaders who demonstrate:

1.A track record of success
2.Courage and leadership in making the tough decisions that produce success
3.Rising from humble circumstances through hard work and self-sacrifice
4.Repeated success in democratic elections
5.Dedication to the interests of those with the greatest needs rather than to the wealthy
6.Bold, innovative policies


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