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The Economist

The Economist is a British publication that describes itself as a weekly newspaper although printed in demitab, 8 in × 10+12 in (203 mm × 267 mm), magazine format,[1] and also published digitally. It is mostly written and edited in Britain,[8] focusing on current affairs, international business, politics, technology, and culture. Based in London, the newspaper is owned by the Economist Group, with its core editorial offices in the United States, as well as across major cities in continental Europe, Asia, and the Middle East. The newspaper has a prominent focus on data journalism and interpretive analysis over original reporting, to both criticism and acclaim.

The Economist
Cover of the 1 August 2020 issue
TypeWeekly newspaper[1][2] (Friday)
Format
Owner(s)The Economist Group
Founder(s)James Wilson
EditorZanny Minton Beddoes
Deputy editorTom Standage
FoundedSeptember 1843; 180 years ago (1843-09)
Political alignmentRadical centrism[3][4]
Economic liberalism[5][6]
Social liberalism[5][6]
Headquarters1-11 John Adam Street
Westminster, London, England
Circulation515,200 (print) (as of January–June 2023[7])
ISSN0013-0613
Websiteeconomist.com

Founded in 1843, The Economist was first circulated by Scottish economist James Wilson to muster support for abolishing the British Corn Laws (1815–1846), a system of import tariffs. Over time, the newspaper's coverage expanded further into political economy and eventually began running articles on current events, finance, commerce, and British politics. Throughout the mid-to-late 20th century, it greatly expanded its layout and format, adding opinion columns, special reports, political cartoons, reader letters, cover stories, art critique, book reviews, and technology features. The paper is recognisable by its fire engine red masthead (US: nameplate) and illustrated, topical covers. Individual articles are written anonymously, with no byline, in order for the paper to speak as one collective voice. It is supplemented by its sister lifestyle magazine, 1843, and a variety of podcasts, films, and books.

The editorial stance of The Economist primarily revolves around classical, social, and most notably economic liberalism. It has supported radical centrism as the concept became established in the late 20th century, favouring policies and governments that maintain centrist politics. The newspaper typically champions economic liberalism, particularly free markets, free trade, free immigration, deregulation, and globalisation. Despite a pronounced editorial stance, it is seen as having little reporting bias, and as exercising rigorous fact-checking and strict copyediting.[9][10] Its extensive use of word play, high subscription prices, and depth of coverage has linked the paper with a high-income and educated readership, drawing both positive and negative connotations.[11][8] In line with this, it claims to have an influential readership of prominent business leaders and policy-makers.

History edit

The Economist was founded by the British businessman and banker James Wilson in 1843, to advance the repeal of the Corn Laws, a system of import tariffs.[12] A prospectus for the newspaper from 5 August 1843 enumerated thirteen areas of coverage that its editors wanted the publication to focus on:[13]

 
 
Scottish economist James Wilson founded the newspaper to "take part in a severe contest between intelligence ... and ... ignorance" Its first issue was published on 2 September 1843 as a broadsheet newspaper before transitioning into a perfect-bound weekly paper in 1971;[citation needed] the paper currently uses a stapled magazine format.
  1. Original leading articles, in which free-trade principles will be most rigidly applied to all the important questions of the day.
  2. Articles relating to some practical, commercial, agricultural, or foreign topic of passing interest, such as foreign treaties.
  3. An article on the elementary principles of political economy, applied to practical experience, covering the laws related to prices, wages, rent, exchange, revenue and taxes.
  4. Parliamentary reports, with particular focus on commerce, agriculture and free trade.
  5. Reports and accounts of popular movements advocating free trade.
  6. General news from the Court of St James's, the Metropolis, the Provinces, Scotland, and Ireland.
  7. Commercial topics such as changes in fiscal regulations, the state and prospects of the markets, imports and exports, foreign news, the state of the manufacturing districts, notices of important new mechanical improvements, shipping news, the money market, and the progress of railways and public companies.
  8. Agricultural topics, including the application of geology and chemistry; notices of new and improved implements, state of crops, markets, prices, foreign markets and prices converted into English money; from time to time, in some detail, the plans pursued in Belgium, Switzerland, and other well-cultivated countries.
  9. Colonial and foreign topics, including trade, produce, political and fiscal changes, and other matters, including exposés on the evils of restriction and protection, and the advantages of free intercourse and trade.
  10. Law reports, confined chiefly to areas important to commerce, manufacturing, and agriculture.
  11. Books, confined chiefly, but not so exclusively, to commerce, manufacturing, and agriculture, and including all treatises on political economy, finance, or taxation.
  12. A commercial gazette, with prices and statistics of the week.
  13. Correspondence and inquiries from the newspaper's readers.

Wilson described it as taking part in "a severe contest between intelligence, which presses forward, and an unworthy, timid ignorance obstructing our progress", a phrase which still appears on its imprint (US: masthead) as the publication's mission.[14] It has long been respected as "one of the most competent and subtle Western periodicals on public affairs".[15] It was cited by Karl Marx in his formulation of socialist theory because Marx felt the publication epitomised the interests of the bourgeoisie.[16] He wrote that "the London Economist, the European organ of the aristocracy of finance, described most strikingly the attitude of this class."[17] In 1915, revolutionary Vladimir Lenin referred to The Economist as a "journal that speaks for British millionaires".[18] Additionally, Lenin stated that The Economist held a "bourgeois-pacifist" position and supported peace out of fear of revolution.[19]

In the currency disputes of the mid nineteenth century, the journal sided with the Banking School against the Currency School. It criticised the Bank Charter Act of 1844 which restricted the amount of bank notes that the Bank of England could issue on the basis of Currency School policy encouraged by Lord Overstone, that eventually developed into monetarism. It blamed the 1857 financial crisis in Britain on 'a certain class of doctrinaires' who 'refer every commercial crisis and its disastrous consequences to "excessive issues of bank notes".[20][21] It identified the causes of the financial crisis as variations in interest rates and a build-up of excess financial capital leading to unwise investments.[20][21]

 
A panel of journalists and public policy leaders at The Economist's 2019 India Summit

In 1920, the paper's circulation rose to 6,170. In 1934, it underwent its first major redesign. The current fire engine red nameplate was created by Reynolds Stone in 1959.[22] In 1971, The Economist changed its large broadsheet format into a smaller magazine-style perfect-bound formatting.[citation needed]

In 1981 the publication introduced a North American edition after publishing the British edition since 1843; its circulation had increased more than tenfold by 2010.[8] In January 2012, The Economist launched a new weekly section devoted exclusively to China, the first new country section since the introduction of one on the United States in 1942.[23]

In 1991, James Fallows argued in The Washington Post that The Economist used editorial lines that contradicted the news stories they purported to highlight.[24] In 1999, Andrew Sullivan complained in The New Republic that it uses "marketing genius"[25] to make up for deficiencies in original reporting, resulting in "a kind of Reader's Digest"[26] for America's corporate elite.[26][27] The Guardian wrote that "its writers rarely see a political or economic problem that cannot be solved by the trusted three-card trick of privatisation, deregulation and liberalisation".[28]

In 2005, the Chicago Tribune named it the best English-language paper noting its strength in international reporting where it does not feel moved to "cover a faraway land only at a time of unmitigated disaster" and that it kept a wall between its reporting and its more conservative editorial policies.[29] In 2008, Jon Meacham, former editor of Newsweek and a self-described "fan", criticised The Economist's focus on analysis over original reporting.[30] In 2012, The Economist was accused of hacking into the computer of Justice Mohammed Nizamul Huq of the Bangladesh Supreme Court, leading to his resignation as the chairman of the International Crimes Tribunal.[31][32] In August 2015, Pearson sold its 50% stake in the newspaper to the Italian Agnelli family's investment company, Exor, for £469 million (US$531 million) and the paper re-acquired the remaining shares for £182 million ($206 million).[33][34]

Organisation edit

Shareholders edit

 
City of Westminster's Smithson Plaza, formerly known as The Economist Building,[35][36][37][38] served as the headquarters of the paper until 2017, on St James's Street.

Pearson plc held a 50% shareholding via The Financial Times Limited until August 2015. At that time, Pearson sold their share in the Economist. The Agnelli family's Exor paid £287m to raise their stake from 4.7% to 43.4% while the Economist paid £182m for the balance of 5.04m shares which will be distributed to current shareholders.[34] Aside from the Agnelli family, smaller shareholders in the company include Cadbury, Rothschild (21%), Schroder, Layton and other family interests as well as a number of staff and former staff shareholders.[34][39] A board of trustees formally appoints the editor, who cannot be removed without its permission. The Economist Newspaper Limited is a wholly owned subsidiary of The Economist Group. Sir Evelyn Robert de Rothschild was chairman of the company from 1972 to 1989.

Although The Economist has a global emphasis and scope, about two-thirds of the 75 staff journalists are based in the London borough of Westminster.[40] However, due to half of all subscribers originating in the United States, The Economist has core editorial offices and substantial operations in New York City, Los Angeles, Chicago, and Washington D.C.[41][42]

Editor edit

 
Zanny Minton Beddoes was appointed editor in 2015, first joining as an emerging markets correspondent in 1994.

The editor-in-chief, commonly known simply as "the Editor", of The Economist is charged with formulating the paper's editorial policies and overseeing corporate operations. Since its 1843 founding, the editors have been:

  1. James Wilson: 1843–1857
  2. Richard Holt Hutton: 1857–1861[note 1]
  3. Walter Bagehot: 1861–1877[note 2]
  4. Daniel Conner Lathbury: 1877–1881[note 3] (jointly)
  5. Robert Harry Inglis Palgrave: 1877–1883 (jointly)
  6. Edward Johnstone: 1883–1907[43]
  7. Francis Wrigley Hirst: 1907–1916
  8. Hartley Withers: 1916–1921
  9. Sir Walter Layton: 1922–1938
  10. Geoffrey Crowther: 1938–1956
  11. Donald Tyerman: 1956–1965
  12. Sir Alastair Burnet: 1965–1974
  13. Andrew Knight: 1974–1986
  14. Rupert Pennant-Rea: 1986–1993
  15. Bill Emmott: 1993–2006
  16. John Micklethwait: 2006–2014[44]
  17. Zanny Minton Beddoes: 2015–present[45]

Tone and voice edit

Though it has many individual columns, by tradition and current practice the newspaper ensures a uniform voice—aided by the anonymity of writers—throughout its pages,[46] as if most articles were written by a single author, which may be perceived to display dry, understated wit, and precise use of language.[47][48] The Economist's treatment of economics presumes a working familiarity with fundamental concepts of classical economics. For instance, it does not explain terms like invisible hand, macroeconomics, or demand curve, and may take just six or seven words to explain the theory of comparative advantage. Articles involving economics do not presume any formal training on the part of the reader and aim to be accessible to the educated layperson. It usually does not translate short French (and German) quotes or phrases. It does describe the business or nature of even well-known entities, writing, for example, "Goldman Sachs, an investment bank".[49] The Economist is known for its extensive use of word play, including puns, allusions, and metaphors, as well as alliteration and assonance, especially in its headlines and captions. This can make it difficult to understand for those who are not native English speakers.[50]

The Economist has traditionally and historically persisted in referring to itself as a "newspaper",[2][51][52] rather than a "news magazine" due to its mostly cosmetic switch from broadsheet to perfect-binding format and its general focus on current affairs as opposed to specialist subjects.[1][53] It is legally classified as a newspaper in Britain and the United States.[54][55][56] Most databases and anthologies catalogue the weekly as a newspaper printed in magazine- or journal-format.[57] The Economist differentiates and contrasts itself as a newspaper against their sister lifestyle magazine, 1843, which does the same in turn. Editor Zanny Minton Bedoes clarified the distinction in 2016: "we call it a newspaper because it was founded in 1843, 173 years ago, [when] all [perfect-bound publications] were called newspapers."[58]

Editorial anonymity edit

The Economist's articles often take a definite editorial stance and almost never carry a byline.[59] Not even the name of the editor is printed in the issue. It is a long-standing tradition that an editor's only signed article during their tenure is written on the occasion of their departure from the position. The author of a piece is named in certain circumstances: when notable persons are invited to contribute opinion pieces; when journalists of The Economist compile special reports (previously known as surveys); for the Year in Review special edition; and to highlight a potential conflict of interest over a book review. The names of The Economist editors and correspondents can be located on the media directory pages of the website.[60] Online blog pieces are signed with the initials of the writer and authors of print stories are allowed to note their authorship from their personal web sites.[61] "This approach is not without its faults (we have four staff members with the initials 'J.P.', for example) but is the best compromise between total anonymity and full bylines, in our view", wrote one anonymous writer of The Economist.[62] According to one academic study, the anonymous ethos of the weekly has contributed to strengthening three areas for The Economist: collective and consistent voice, talent and newsroom management, and brand strength.[63]

The editors say this is necessary because "collective voice and personality matter more than the identities of individual journalists"[64] and reflects "a collaborative effort".[65] In most articles, authors refer to themselves as "your correspondent" or "this reviewer". The writers of the titled opinion columns tend to refer to themselves by the title (hence, a sentence in the "Lexington" column might read "Lexington was informed...").

American author and long-time reader Michael Lewis criticised the paper's editorial anonymity in 1991, labelling it a means to hide the youth and inexperience of those writing articles.[24] Although individual articles are written anonymously, there is no secrecy over who the writers are, as they are listed on The Economist's website, which also provides summaries of their careers and academic qualifications.[66] Later, in 2009, Lewis included multiple Economist articles in his anthology about the 2008 financial crisis, Panic: The Story of Modern Financial Insanity.[67]

John Ralston Saul describes The Economist as a "...[newspaper] which hides the names of the journalists who write its articles in order to create the illusion that they dispense disinterested truth rather than opinion. This sales technique, reminiscent of pre-Reformation Catholicism, is not surprising in a publication named after the social science most given to wild guesses and imaginary facts presented in the guise of inevitability and exactitude. That it is the Bible of the corporate executive indicates to what extent received wisdom is the daily bread of a managerial civilization."[68]

Features edit

 
A stack of Economist papers, ordered by publication date, 2020

The Economist's primary focus is world events, politics and business, but it also runs regular sections on science and technology as well as books and the arts. Approximately every two weeks, the publication includes an in-depth special report (previously called surveys) on a given topic.[69] The five main categories are Countries and Regions, Business, Finance and Economics, Science, and Technology. The newspaper goes to press on Thursdays, between 6 p.m. and 7 p.m. GMT, and is available at newsagents in many countries the next day. It is printed at seven sites around the world.

Since July 2007, there has also been a complete audio edition of the paper available 9 pm London time on Thursdays.[70] The audio version of The Economist is produced by the production company Talking Issues. The company records the full text of the newspaper in MP3 format, including the extra pages in the UK edition. The weekly 130 MB download is free for subscribers and available for a fee for non-subscribers. The publication's writers adopt a tight style that seeks to include the maximum amount of information in a limited space.[71] David G. Bradley, publisher of The Atlantic, described the formula as "a consistent world view expressed, consistently, in tight and engaging prose".[72]

Letters edit

The Economist frequently receives letters from its readership in response to the previous week's edition. While it is known to feature letters from senior businesspeople, politicians, ambassadors, and spokespeople, the paper includes letters from typical readers as well. Well-written or witty responses from anyone are considered, and controversial issues frequently produce a torrent of letters. For example, the survey of corporate social responsibility, published January 2005, produced largely critical letters from Oxfam, the World Food Programme, United Nations Global Compact, the Chairman of BT Group, an ex-Director of Shell and the UK Institute of Directors.[73]

In an effort to foster diversity of thought, The Economist routinely publishes letters that openly criticize the paper's articles and stance. After The Economist ran a critique of Amnesty International and human rights in general in its issue dated 24 March 2007, its letters page ran a reply from Amnesty, as well as several other letters in support of the organisation, including one from the head of the United Nations Commission on Human Rights.[74] Rebuttals from officials within regimes such as the Singapore government are routinely printed, to comply with local right-of-reply laws without compromising editorial independence.[75]

Letters published in the paper are typically between 150 and 200 words long and had the now-discontinued salutation 'Sir' from 1843 to 2015. In the latter year, upon the appointment of Zanny Minton Beddoes, the first female editor, the salutation was dismissed; letters have since had no salutation.[citation needed] Prior to a change in procedure, all responses to online articles were published in "The Inbox".[citation needed]

Columns edit

The publication runs several opinion columns whose names reflect their topic:

  • Bagehot (Britain): named for Walter Bagehot (/ˈbæət/), 19th-century British constitutional expert and early editor of The Economist. Since April 2017 it has been written by Adrian Wooldridge, who succeeded David Rennie.[76][77]
  • Banyan (Asia): named for the banyan tree, this column was established in April 2009 and focuses on various issues across the Asian continent and is written by Dominic Ziegler.
  • Bartleby (Work and management): named after the titular character of a Herman Melville short story, this column was established in May 2018. It was written by Philip Coggan until August 2021.
  • Buttonwood (Finance): named for the buttonwood tree where early Wall Street traders gathered. Until September 2006 this was available only as an on-line column, but it is now included in the print edition. Since 2018, it is written by John O'Sullivan, succeeding Philip Coggan.[78]
  • Chaguan (China): named for Chaguan, the traditional Chinese Tea houses in Chengdu, this column was established on 13 September 2018.[79]
  • Charlemagne (Europe): named for Charlemagne, Emperor of the Frankish Empire. It is written by Jeremy Cliffe[80] and earlier it was written by David Rennie (2007–2010) and by Anton La Guardia[81] (2010–2014).
  • Johnson (language): named for Samuel Johnson, this column returned to the publication in 2016 and covers language. It is written by Robert Lane Greene.
  • Lexington (United States): named for Lexington, Massachusetts, the site of the beginning of the American Revolutionary War. From June 2010 until May 2012, it was written by Peter David, until his death in a car accident.[82] As of late 2023, the column was written by James Bennet.[83]
  • Schumpeter (Business): named for the economist Joseph Schumpeter, this column was established in September 2009 and is written by Patrick Foulis.
  • Free Exchange (Economics): a general economics column, frequently based on academic research, replaced the column Economics Focus in January 2012
  • Obituary (recent death): Since 2003 it has been written by Ann Wroe.[84]

TQ edit

Every three months, The Economist publishes a technology report called Technology Quarterly, or simply, TQ, a special section focusing on recent trends and developments in science and technology.[85][86] The feature is also known to intertwine "economic matters with a technology".[87] The TQ often carries a theme, such as quantum computing or cloud storage, and assembles an assortment of articles around the common subject.[88][89]

1843 edit

In September 2007, The Economist launched a sister lifestyle magazine under the title Intelligent Life as a quarterly publication. At its inauguration it was billed as for "the arts, style, food, wine, cars, travel and anything else under the sun, as long as it's interesting".[90] The magazine focuses on analysing the "insights and predictions for the luxury landscape" across the world.[91] Approximately ten years later, in March 2016, the newspaper's parent company, Economist Group, rebranded the lifestyle magazine as 1843, in honour of the paper's founding year. It has since remained at six issues per year and carries the motto "Stories of An Extraordinary World".[90] Unlike The Economist, the author's names appear next to their articles in 1843.[92]

1843 features contributions from Economist journalists as well as writers around the world and photography commissioned for each issue. It is seen as a market competitor to The Wall Street Journal's WSJ. and the Financial Times' FT Magazine.[93] It has, since its March 2016 relaunch, been edited by Rosie Blau, a former correspondent for The Economist.[94]

The World Ahead edit

The paper also produces two annual reviews and predictive reports titled The World In [Year] and The World If [Year] as part of their The World Ahead franchise.[95] In both features, the newspaper publishes a review of the social, cultural, economic and political events that have shaped the year and will continue to influence the immediate future. The issue was described by the American think tank Brookings Institution as "The Economist's annual [150-page] exercise in forecasting."[96]

An Urdu-language version of The World In [Year] in collaboration with The Economist is being distributed by Jang Group in Pakistan.[97]

Books edit

 
A series of Economist technical manuals, 2020

In addition to publishing its main newspaper, lifestyle magazine, and special features, The Economist also produces books with topics overlapping with that of its newspaper. The weekly also publishes a series of technical manuals (or guides) as an offshoot of its explanatory journalism. Some of these books serve as collections of articles and columns the paper produces.[98] Often columnists from the newspaper write technical manuals on their topic of expertise; for example, Philip Coggan, a finance correspondent, authored The Economist Guide to Hedge Funds (2011).[99]

Additionally, the paper publishes book reviews in every issue, with a large collective review in their year-end (holiday) issue – published as "The Economist's Books of the Year".[100] The paper has its own in-house stylebook rather than following an industry-wide writing style template.[101] All Economist writing, and publications follow The Economist Style Guide, in various editions.[102][103]

Writing competitions edit

The Economist sponsors a wide array of writing competitions and prizes throughout the year for readers. In 1999, The Economist organised a global futurist writing competition, The World in 2050. Co-sponsored by Royal Dutch/Shell, the competition included a first prize of US$20,000 and publication in The Economist's annual flagship publication, The World In.[104] Over 3,000 entries from around the world were submitted via a website set up for the purpose and at various Royal Dutch Shell offices worldwide.[104] The judging panel included Bill Emmott, Esther Dyson, Sir Mark Moody-Stuart, and Matt Ridley.[105]

In the summer of 2019, they launched the Open Future writing competition with an inaugural youth essay-writing prompt about climate change.[106] During this competition the paper accepted a submission from an artificially-intelligent computer writing program.[107]

Data journalism edit

The presence of data journalism in The Economist can be traced to its founding year in 1843. Initially, the weekly published basic international trade figures and tables.[108][109] The paper first included a graphical model in 1847, with a bubble chart detailing precious metals, and its first non-epistolary chart was included in its 1854 issue, charting the spread of cholera.[108] This early adoption of data-based articles was estimated to be "a 100 years before the field's modern emergence" by Data Journalism.com.[109] Its transition from broadsheet to magazine-style formatting led to the adoption of coloured graphs, first in fire-engine-red during the 1980s and then to a thematic blue in 2001.[108] The Economist told their readers throughout the 2000s that the paper's editors had "developed a taste for data-driven stories".[108] Starting in the late-2000s, they began to publish more and more articles that centred solely on charts, some of which began to be published daily.[108] The daily charts are typically followed by a short, 300-word explanation. In September 2009, The Economist launched a Twitter account for their Data Team.[110]

In 2015, the weekly formed a dedicated team of 12 data analysts, designers, and journalists to head up their firm-wide data journalism efforts.[111] In order to ensure transparency in their data collection The Economist maintains a corporate GitHub account to publicly disclose all of their models and software.[112] In October 2018, they introduced their "Graphic Detail" feature in both their print and digital editions.[112] The Graphic Detail feature would go on to include mainly graphs, maps, and infographics.[113]

The Economist's Data Team won the 2020 Sigma Data Journalism Award for Best Young Journalists.[114] In 2015, they placed third for an infographic describing Israel's coalition networks in the year's Data Journalism Awards by the Global Editors Network.[115]

Indexes edit

Historically, the publication has also maintained a section of economic statistics, such as employment figures, economic growth, and interest rates. These statistical publications have been found to be seen as authoritative and decisive in British society.[116] The Economist also publishes a variety of rankings seeking to position business schools and undergraduate universities among each other, respectively. In 2015, they published their first ranking of U.S. universities, focusing on comparable economic advantages. Their data for the rankings is sourced from the U.S. Department of Education and is calculated as a function of median earnings through regression analysis.[117] Among others, the most well-known data indexes the weekly publishes are:

Opinions edit

The editorial stance of The Economist primarily revolves around classical, social, and most notably, economic liberalism. Since its founding, it has supported radical centrism, favouring policies and governments that maintain centrist politics. The newspaper typically champions neoliberalism, particularly free markets, free trade, free immigration, deregulation, and globalisation.[121] When the newspaper was founded, the term economism denoted what would today be termed "economic liberalism". The activist and journalist George Monbiot has described it as neoliberal while occasionally accepting the propositions of Keynesian economics where deemed more "reasonable".[122] The weekly favours a carbon tax to fight global warming.[123] According to one former editor, Bill Emmott, "the Economist's philosophy has always been liberal, not conservative".[124] Alongside other publications such as The Guardian, The Observer and The Independent, it supports the United Kingdom becoming a republic.[125]

 
Scottish economist Adam Smith (right) and philosopher David Hume (left) represent the newspaper's foundational beliefs of laissez-faire policies, self-sufficiency, anti-protectionism and free trade.

Individual contributors take diverse views. The Economist favours the support, through central banks, of banks and other important corporations. This principle can, in a much more limited form, be traced back to Walter Bagehot, the third editor of The Economist, who argued that the Bank of England should support major banks that got into difficulties. Karl Marx deemed The Economist the "European organ" of "the aristocracy of finance".[126] The newspaper has also supported liberal causes on social issues such as recognition of gay marriages,[127] legalisation of drugs,[128] criticises the U.S. tax model,[129] and seems to support some government regulation on health issues, such as smoking in public,[130] as well as bans on smacking children.[131] The Economist consistently favours guest worker programmes, parental choice of school, and amnesties[132] and once published an "obituary" of God.[133] The Economist also has a long record of supporting gun control.[134]

The Economist has endorsed the Labour Party (in 2005), the Conservative Party (in 2010 and 2015),[135][136] and the Liberal Democrats (in 2017 and 2019) at general election time in Britain, and both Republican and Democratic candidates in the United States. Economist.com puts its stance this way:

What, besides free trade and free markets, does The Economist believe in? "It is to the Radicals that The Economist still likes to think of itself as belonging. The extreme centre is the paper's historical position". That is as true today as when Crowther [Geoffrey, Economist editor 1938–1956] said it in 1955. The Economist considers itself the enemy of privilege, pomposity and predictability. It has backed conservatives such as Ronald Reagan and Margaret Thatcher. It has supported the Americans in Vietnam. But it has also endorsed Harold Wilson and Bill Clinton, and espoused a variety of liberal causes: opposing capital punishment from its earliest days, while favouring penal reform and decolonisation, as well as—more recently—gun control and gay marriage.[22]

In 2008, The Economist commented that Cristina Fernández de Kirchner, the president of Argentina at the time was "Dashing hopes of change, Argentina's new president is leading her country into economic peril and social conflict".[137] The Economist also called for Bill Clinton's impeachment[138] and, after the emergence of the Abu Ghraib torture and prisoner abuse,[139] for Donald Rumsfeld's resignation. Though The Economist initially gave vigorous support for the U.S.-led invasion of Iraq, it later called the operation "bungled from the start" and criticised the "almost criminal negligence" of the Bush Administration's handling of the war, while maintaining, in 2007, that pulling out in the short term would be irresponsible.[140] In an editorial marking its 175th anniversary, The Economist criticised adherents to liberalism for becoming too inclined to protect the political status quo rather than pursue reform.[141] The paper called on liberals to return to advocating for bold political, economic and social reforms: protecting free markets, land and tax reform in the tradition of Georgism, open immigration, a rethink of the social contract with more emphasis on education, and a revival of liberal internationalism.[141]

Circulation edit

Each of The Economist issues' official date range is from Saturday to the following Friday. The Economist posts each week's new content online at approximately 21:00 Thursday evening UK time, ahead of the official publication date.[142] From July to December 2019, their average global print circulation was over 909,476, while combined with their digital presence, runs to over 1.6 million.[53] However, on a weekly average basis, the paper can reach up to 5.1 million readers, across their print and digital runs.[53] Across their social media platforms, it reaches an audience of 35 million, as of 2016.[143]

In 1877, the publication's circulation was 3,700, and in 1920 it had risen to 6,000. Circulation increased rapidly after 1945, reaching 100,000 by 1970.[22] Circulation is audited by the Audit Bureau of Circulations (ABC). From around 30,000 in 1960 it has risen to near 1 million by 2000 and by 2016 to about 1.3 million.[144] Approximately half of all sales (54%) originate in the United States with sales in the United Kingdom making 14% of the total and continental Europe 19%.[41] Of its American readers, two out of three earn more than $100,000 a year. The Economist has sales, both by subscription and at newsagents, in over 200 countries.

The Economist once boasted about its limited circulation. In the early 1990s it used the slogan "The Economist – not read by millions of people". "Never in the history of journalism has so much been read for so long by so few," wrote Geoffrey Crowther, a former editor.[145]

Censorship edit

 
A copy of The Economist in Liaoning Provincial Library. Page 28 from the 1 June 2019 issue, about the 1989 Tiananmen Square Protests, has been removed.

Sections of The Economist criticising authoritarian regimes are frequently removed from the paper by the authorities in those countries.

Like many other publications, The Economist is subjected to censorship in Iran. On 15 June 2006, Iran banned the sale of The Economist when it published a map labelling the Persian Gulf simply as Gulf—a choice that derives its political significance from the Persian Gulf naming dispute.[146]

In a separate incident, the government of Zimbabwe went further and imprisoned The Economist's correspondent there, Andrew Meldrum. The government charged him with violating a statute on "publishing untruth" for writing that a woman was decapitated by supporters of the ruling Zimbabwe African National Union – Patriotic Front party. The decapitation claim was retracted[147] and allegedly fabricated by the woman's husband. The correspondent was later acquitted, only to receive a deportation order.

On 19 August 2013, The Economist disclosed that the Missouri Department of Corrections had censored its issue of 29 June 2013. According to the letter sent by the department, prisoners were not allowed to receive the issue because "1. it constitutes a threat to the security or discipline of the institution; 2. may facilitate or encourage criminal activity; or 3. may interfere with the rehabilitation of an offender".[148]

See also edit

Notes edit

  1. ^ The Concise Dictionary of National Biography makes him assistant editor 1858–1860.
  2. ^ He was Wilson's son-in-law.
  3. ^ A journalist and biographer

References edit

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Further reading edit

  • Arrese, Angel (1995), La identidad de The Economist. Pamplona: Eunsa. ISBN 978-84-313-1373-9.
  • Edwards, Ruth Dudley (1993), The Pursuit of Reason: The Economist 1843–1993, London: Hamish Hamilton, ISBN 978-0-241-12939-5
  • Tungate, Mark (2004). "The Economist". Media Monoliths. Kogan Page Publishers. pp. 194–206. ISBN 978-0-7494-4108-1.

External links edit

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economist, profession, economist, other, uses, disambiguation, british, publication, that, describes, itself, weekly, newspaper, although, printed, demitab, magazine, format, also, published, digitally, mostly, written, edited, britain, focusing, current, affa. For the profession see Economist For other uses see The Economist disambiguation The Economist is a British publication that describes itself as a weekly newspaper although printed in demitab 8 in 10 1 2 in 203 mm 267 mm magazine format 1 and also published digitally It is mostly written and edited in Britain 8 focusing on current affairs international business politics technology and culture Based in London the newspaper is owned by the Economist Group with its core editorial offices in the United States as well as across major cities in continental Europe Asia and the Middle East The newspaper has a prominent focus on data journalism and interpretive analysis over original reporting to both criticism and acclaim The EconomistCover of the 1 August 2020 issueTypeWeekly newspaper 1 2 Friday FormatMagazinedigitalOwner s The Economist GroupFounder s James WilsonEditorZanny Minton BeddoesDeputy editorTom StandageFoundedSeptember 1843 180 years ago 1843 09 Political alignmentRadical centrism 3 4 Economic liberalism 5 6 Social liberalism 5 6 Headquarters1 11 John Adam StreetWestminster London EnglandCirculation515 200 print as of January June 2023 7 ISSN0013 0613Websiteeconomist wbr comFounded in 1843 The Economist was first circulated by Scottish economist James Wilson to muster support for abolishing the British Corn Laws 1815 1846 a system of import tariffs Over time the newspaper s coverage expanded further into political economy and eventually began running articles on current events finance commerce and British politics Throughout the mid to late 20th century it greatly expanded its layout and format adding opinion columns special reports political cartoons reader letters cover stories art critique book reviews and technology features The paper is recognisable by its fire engine red masthead US nameplate and illustrated topical covers Individual articles are written anonymously with no byline in order for the paper to speak as one collective voice It is supplemented by its sister lifestyle magazine 1843 and a variety of podcasts films and books The editorial stance of The Economist primarily revolves around classical social and most notably economic liberalism It has supported radical centrism as the concept became established in the late 20th century favouring policies and governments that maintain centrist politics The newspaper typically champions economic liberalism particularly free markets free trade free immigration deregulation and globalisation Despite a pronounced editorial stance it is seen as having little reporting bias and as exercising rigorous fact checking and strict copyediting 9 10 Its extensive use of word play high subscription prices and depth of coverage has linked the paper with a high income and educated readership drawing both positive and negative connotations 11 8 In line with this it claims to have an influential readership of prominent business leaders and policy makers Contents 1 History 2 Organisation 2 1 Shareholders 2 2 Editor 3 Tone and voice 3 1 Editorial anonymity 4 Features 4 1 Letters 4 2 Columns 4 3 TQ 4 4 1843 4 5 The World Ahead 4 6 Books 4 7 Writing competitions 5 Data journalism 5 1 Indexes 6 Opinions 7 Circulation 8 Censorship 9 See also 10 Notes 11 References 12 Further reading 13 External linksHistory editThe Economist was founded by the British businessman and banker James Wilson in 1843 to advance the repeal of the Corn Laws a system of import tariffs 12 A prospectus for the newspaper from 5 August 1843 enumerated thirteen areas of coverage that its editors wanted the publication to focus on 13 nbsp nbsp Scottish economist James Wilson founded the newspaper to take part in a severe contest between intelligence and ignorance Its first issue was published on 2 September 1843 as a broadsheet newspaper before transitioning into a perfect bound weekly paper in 1971 citation needed the paper currently uses a stapled magazine format Original leading articles in which free trade principles will be most rigidly applied to all the important questions of the day Articles relating to some practical commercial agricultural or foreign topic of passing interest such as foreign treaties An article on the elementary principles of political economy applied to practical experience covering the laws related to prices wages rent exchange revenue and taxes Parliamentary reports with particular focus on commerce agriculture and free trade Reports and accounts of popular movements advocating free trade General news from the Court of St James s the Metropolis the Provinces Scotland and Ireland Commercial topics such as changes in fiscal regulations the state and prospects of the markets imports and exports foreign news the state of the manufacturing districts notices of important new mechanical improvements shipping news the money market and the progress of railways and public companies Agricultural topics including the application of geology and chemistry notices of new and improved implements state of crops markets prices foreign markets and prices converted into English money from time to time in some detail the plans pursued in Belgium Switzerland and other well cultivated countries Colonial and foreign topics including trade produce political and fiscal changes and other matters including exposes on the evils of restriction and protection and the advantages of free intercourse and trade Law reports confined chiefly to areas important to commerce manufacturing and agriculture Books confined chiefly but not so exclusively to commerce manufacturing and agriculture and including all treatises on political economy finance or taxation A commercial gazette with prices and statistics of the week Correspondence and inquiries from the newspaper s readers Wilson described it as taking part in a severe contest between intelligence which presses forward and an unworthy timid ignorance obstructing our progress a phrase which still appears on its imprint US masthead as the publication s mission 14 It has long been respected as one of the most competent and subtle Western periodicals on public affairs 15 It was cited by Karl Marx in his formulation of socialist theory because Marx felt the publication epitomised the interests of the bourgeoisie 16 He wrote that the London Economist the European organ of the aristocracy of finance described most strikingly the attitude of this class 17 In 1915 revolutionary Vladimir Lenin referred to The Economist as a journal that speaks for British millionaires 18 Additionally Lenin stated that The Economist held a bourgeois pacifist position and supported peace out of fear of revolution 19 In the currency disputes of the mid nineteenth century the journal sided with the Banking School against the Currency School It criticised the Bank Charter Act of 1844 which restricted the amount of bank notes that the Bank of England could issue on the basis of Currency School policy encouraged by Lord Overstone that eventually developed into monetarism It blamed the 1857 financial crisis in Britain on a certain class of doctrinaires who refer every commercial crisis and its disastrous consequences to excessive issues of bank notes 20 21 It identified the causes of the financial crisis as variations in interest rates and a build up of excess financial capital leading to unwise investments 20 21 nbsp A panel of journalists and public policy leaders at The Economist s 2019 India SummitIn 1920 the paper s circulation rose to 6 170 In 1934 it underwent its first major redesign The current fire engine red nameplate was created by Reynolds Stone in 1959 22 In 1971 The Economist changed its large broadsheet format into a smaller magazine style perfect bound formatting citation needed In 1981 the publication introduced a North American edition after publishing the British edition since 1843 its circulation had increased more than tenfold by 2010 8 In January 2012 The Economist launched a new weekly section devoted exclusively to China the first new country section since the introduction of one on the United States in 1942 23 In 1991 James Fallows argued in The Washington Post that The Economist used editorial lines that contradicted the news stories they purported to highlight 24 In 1999 Andrew Sullivan complained in The New Republic that it uses marketing genius 25 to make up for deficiencies in original reporting resulting in a kind of Reader s Digest 26 for America s corporate elite 26 27 The Guardian wrote that its writers rarely see a political or economic problem that cannot be solved by the trusted three card trick of privatisation deregulation and liberalisation 28 In 2005 the Chicago Tribune named it the best English language paper noting its strength in international reporting where it does not feel moved to cover a faraway land only at a time of unmitigated disaster and that it kept a wall between its reporting and its more conservative editorial policies 29 In 2008 Jon Meacham former editor of Newsweek and a self described fan criticised The Economist s focus on analysis over original reporting 30 In 2012 The Economist was accused of hacking into the computer of Justice Mohammed Nizamul Huq of the Bangladesh Supreme Court leading to his resignation as the chairman of the International Crimes Tribunal 31 32 In August 2015 Pearson sold its 50 stake in the newspaper to the Italian Agnelli family s investment company Exor for 469 million US 531 million and the paper re acquired the remaining shares for 182 million 206 million 33 34 Organisation editShareholders edit nbsp City of Westminster s Smithson Plaza formerly known as The Economist Building 35 36 37 38 served as the headquarters of the paper until 2017 on St James s Street Pearson plc held a 50 shareholding via The Financial Times Limited until August 2015 At that time Pearson sold their share in the Economist The Agnelli family s Exor paid 287m to raise their stake from 4 7 to 43 4 while the Economist paid 182m for the balance of 5 04m shares which will be distributed to current shareholders 34 Aside from the Agnelli family smaller shareholders in the company include Cadbury Rothschild 21 Schroder Layton and other family interests as well as a number of staff and former staff shareholders 34 39 A board of trustees formally appoints the editor who cannot be removed without its permission The Economist Newspaper Limited is a wholly owned subsidiary of The Economist Group Sir Evelyn Robert de Rothschild was chairman of the company from 1972 to 1989 Although The Economist has a global emphasis and scope about two thirds of the 75 staff journalists are based in the London borough of Westminster 40 However due to half of all subscribers originating in the United States The Economist has core editorial offices and substantial operations in New York City Los Angeles Chicago and Washington D C 41 42 Editor edit nbsp Zanny Minton Beddoes was appointed editor in 2015 first joining as an emerging markets correspondent in 1994 The editor in chief commonly known simply as the Editor of The Economist is charged with formulating the paper s editorial policies and overseeing corporate operations Since its 1843 founding the editors have been James Wilson 1843 1857 Richard Holt Hutton 1857 1861 note 1 Walter Bagehot 1861 1877 note 2 Daniel Conner Lathbury 1877 1881 note 3 jointly Robert Harry Inglis Palgrave 1877 1883 jointly Edward Johnstone 1883 1907 43 Francis Wrigley Hirst 1907 1916 Hartley Withers 1916 1921 Sir Walter Layton 1922 1938 Geoffrey Crowther 1938 1956 Donald Tyerman 1956 1965 Sir Alastair Burnet 1965 1974 Andrew Knight 1974 1986 Rupert Pennant Rea 1986 1993 Bill Emmott 1993 2006 John Micklethwait 2006 2014 44 Zanny Minton Beddoes 2015 present 45 Tone and voice editThough it has many individual columns by tradition and current practice the newspaper ensures a uniform voice aided by the anonymity of writers throughout its pages 46 as if most articles were written by a single author which may be perceived to display dry understated wit and precise use of language 47 48 The Economist s treatment of economics presumes a working familiarity with fundamental concepts of classical economics For instance it does not explain terms like invisible hand macroeconomics or demand curve and may take just six or seven words to explain the theory of comparative advantage Articles involving economics do not presume any formal training on the part of the reader and aim to be accessible to the educated layperson It usually does not translate short French and German quotes or phrases It does describe the business or nature of even well known entities writing for example Goldman Sachs an investment bank 49 The Economist is known for its extensive use of word play including puns allusions and metaphors as well as alliteration and assonance especially in its headlines and captions This can make it difficult to understand for those who are not native English speakers 50 The Economist has traditionally and historically persisted in referring to itself as a newspaper 2 51 52 rather than a news magazine due to its mostly cosmetic switch from broadsheet to perfect binding format and its general focus on current affairs as opposed to specialist subjects 1 53 It is legally classified as a newspaper in Britain and the United States 54 55 56 Most databases and anthologies catalogue the weekly as a newspaper printed in magazine or journal format 57 The Economist differentiates and contrasts itself as a newspaper against their sister lifestyle magazine 1843 which does the same in turn Editor Zanny Minton Bedoes clarified the distinction in 2016 we call it a newspaper because it was founded in 1843 173 years ago when all perfect bound publications were called newspapers 58 Editorial anonymity edit The Economist s articles often take a definite editorial stance and almost never carry a byline 59 Not even the name of the editor is printed in the issue It is a long standing tradition that an editor s only signed article during their tenure is written on the occasion of their departure from the position The author of a piece is named in certain circumstances when notable persons are invited to contribute opinion pieces when journalists of The Economist compile special reports previously known as surveys for the Year in Review special edition and to highlight a potential conflict of interest over a book review The names of The Economist editors and correspondents can be located on the media directory pages of the website 60 Online blog pieces are signed with the initials of the writer and authors of print stories are allowed to note their authorship from their personal web sites 61 This approach is not without its faults we have four staff members with the initials J P for example but is the best compromise between total anonymity and full bylines in our view wrote one anonymous writer of The Economist 62 According to one academic study the anonymous ethos of the weekly has contributed to strengthening three areas for The Economist collective and consistent voice talent and newsroom management and brand strength 63 The editors say this is necessary because collective voice and personality matter more than the identities of individual journalists 64 and reflects a collaborative effort 65 In most articles authors refer to themselves as your correspondent or this reviewer The writers of the titled opinion columns tend to refer to themselves by the title hence a sentence in the Lexington column might read Lexington was informed American author and long time reader Michael Lewis criticised the paper s editorial anonymity in 1991 labelling it a means to hide the youth and inexperience of those writing articles 24 Although individual articles are written anonymously there is no secrecy over who the writers are as they are listed on The Economist s website which also provides summaries of their careers and academic qualifications 66 Later in 2009 Lewis included multiple Economist articles in his anthology about the 2008 financial crisis Panic The Story of Modern Financial Insanity 67 John Ralston Saul describes The Economist as a newspaper which hides the names of the journalists who write its articles in order to create the illusion that they dispense disinterested truth rather than opinion This sales technique reminiscent of pre Reformation Catholicism is not surprising in a publication named after the social science most given to wild guesses and imaginary facts presented in the guise of inevitability and exactitude That it is the Bible of the corporate executive indicates to what extent received wisdom is the daily bread of a managerial civilization 68 Features edit nbsp A stack of Economist papers ordered by publication date 2020The Economist s primary focus is world events politics and business but it also runs regular sections on science and technology as well as books and the arts Approximately every two weeks the publication includes an in depth special report previously called surveys on a given topic 69 The five main categories are Countries and Regions Business Finance and Economics Science and Technology The newspaper goes to press on Thursdays between 6 p m and 7 p m GMT and is available at newsagents in many countries the next day It is printed at seven sites around the world Since July 2007 there has also been a complete audio edition of the paper available 9 pm London time on Thursdays 70 The audio version of The Economist is produced by the production company Talking Issues The company records the full text of the newspaper in MP3 format including the extra pages in the UK edition The weekly 130 MB download is free for subscribers and available for a fee for non subscribers The publication s writers adopt a tight style that seeks to include the maximum amount of information in a limited space 71 David G Bradley publisher of The Atlantic described the formula as a consistent world view expressed consistently in tight and engaging prose 72 Letters edit The Economist frequently receives letters from its readership in response to the previous week s edition While it is known to feature letters from senior businesspeople politicians ambassadors and spokespeople the paper includes letters from typical readers as well Well written or witty responses from anyone are considered and controversial issues frequently produce a torrent of letters For example the survey of corporate social responsibility published January 2005 produced largely critical letters from Oxfam the World Food Programme United Nations Global Compact the Chairman of BT Group an ex Director of Shell and the UK Institute of Directors 73 In an effort to foster diversity of thought The Economist routinely publishes letters that openly criticize the paper s articles and stance After The Economist ran a critique of Amnesty International and human rights in general in its issue dated 24 March 2007 its letters page ran a reply from Amnesty as well as several other letters in support of the organisation including one from the head of the United Nations Commission on Human Rights 74 Rebuttals from officials within regimes such as the Singapore government are routinely printed to comply with local right of reply laws without compromising editorial independence 75 Letters published in the paper are typically between 150 and 200 words long and had the now discontinued salutation Sir from 1843 to 2015 In the latter year upon the appointment of Zanny Minton Beddoes the first female editor the salutation was dismissed letters have since had no salutation citation needed Prior to a change in procedure all responses to online articles were published in The Inbox citation needed Columns edit The publication runs several opinion columns whose names reflect their topic Bagehot Britain named for Walter Bagehot ˈ b ae dʒ e t 19th century British constitutional expert and early editor of The Economist Since April 2017 it has been written by Adrian Wooldridge who succeeded David Rennie 76 77 Banyan Asia named for the banyan tree this column was established in April 2009 and focuses on various issues across the Asian continent and is written by Dominic Ziegler Bartleby Work and management named after the titular character of a Herman Melville short story this column was established in May 2018 It was written by Philip Coggan until August 2021 Buttonwood Finance named for the buttonwood tree where early Wall Street traders gathered Until September 2006 this was available only as an on line column but it is now included in the print edition Since 2018 it is written by John O Sullivan succeeding Philip Coggan 78 Chaguan China named for Chaguan the traditional Chinese Tea houses in Chengdu this column was established on 13 September 2018 79 Charlemagne Europe named for Charlemagne Emperor of the Frankish Empire It is written by Jeremy Cliffe 80 and earlier it was written by David Rennie 2007 2010 and by Anton La Guardia 81 2010 2014 Johnson language named for Samuel Johnson this column returned to the publication in 2016 and covers language It is written by Robert Lane Greene Lexington United States named for Lexington Massachusetts the site of the beginning of the American Revolutionary War From June 2010 until May 2012 it was written by Peter David until his death in a car accident 82 As of late 2023 the column was written by James Bennet 83 Schumpeter Business named for the economist Joseph Schumpeter this column was established in September 2009 and is written by Patrick Foulis Free Exchange Economics a general economics column frequently based on academic research replaced the column Economics Focus in January 2012 Obituary recent death Since 2003 it has been written by Ann Wroe 84 TQ edit Every three months The Economist publishes a technology report called Technology Quarterly or simply TQ a special section focusing on recent trends and developments in science and technology 85 86 The feature is also known to intertwine economic matters with a technology 87 The TQ often carries a theme such as quantum computing or cloud storage and assembles an assortment of articles around the common subject 88 89 1843 edit Main article 1843 magazine In September 2007 The Economist launched a sister lifestyle magazine under the title Intelligent Life as a quarterly publication At its inauguration it was billed as for the arts style food wine cars travel and anything else under the sun as long as it s interesting 90 The magazine focuses on analysing the insights and predictions for the luxury landscape across the world 91 Approximately ten years later in March 2016 the newspaper s parent company Economist Group rebranded the lifestyle magazine as 1843 in honour of the paper s founding year It has since remained at six issues per year and carries the motto Stories of An Extraordinary World 90 Unlike The Economist the author s names appear next to their articles in 1843 92 1843 features contributions from Economist journalists as well as writers around the world and photography commissioned for each issue It is seen as a market competitor to The Wall Street Journal s WSJ and the Financial Times FT Magazine 93 It has since its March 2016 relaunch been edited by Rosie Blau a former correspondent for The Economist 94 The World Ahead edit The paper also produces two annual reviews and predictive reports titled The World In Year and The World If Year as part of their The World Ahead franchise 95 In both features the newspaper publishes a review of the social cultural economic and political events that have shaped the year and will continue to influence the immediate future The issue was described by the American think tank Brookings Institution as The Economist s annual 150 page exercise in forecasting 96 An Urdu language version of The World In Year in collaboration with The Economist is being distributed by Jang Group in Pakistan 97 Books edit nbsp A series of Economist technical manuals 2020In addition to publishing its main newspaper lifestyle magazine and special features The Economist also produces books with topics overlapping with that of its newspaper The weekly also publishes a series of technical manuals or guides as an offshoot of its explanatory journalism Some of these books serve as collections of articles and columns the paper produces 98 Often columnists from the newspaper write technical manuals on their topic of expertise for example Philip Coggan a finance correspondent authored The Economist Guide to Hedge Funds 2011 99 Additionally the paper publishes book reviews in every issue with a large collective review in their year end holiday issue published as The Economist s Books of the Year 100 The paper has its own in house stylebook rather than following an industry wide writing style template 101 All Economist writing and publications follow The Economist Style Guide in various editions 102 103 Writing competitions edit The Economist sponsors a wide array of writing competitions and prizes throughout the year for readers In 1999 The Economist organised a global futurist writing competition The World in 2050 Co sponsored by Royal Dutch Shell the competition included a first prize of US 20 000 and publication in The Economist s annual flagship publication The World In 104 Over 3 000 entries from around the world were submitted via a website set up for the purpose and at various Royal Dutch Shell offices worldwide 104 The judging panel included Bill Emmott Esther Dyson Sir Mark Moody Stuart and Matt Ridley 105 In the summer of 2019 they launched the Open Future writing competition with an inaugural youth essay writing prompt about climate change 106 During this competition the paper accepted a submission from an artificially intelligent computer writing program 107 Data journalism editThe presence of data journalism in The Economist can be traced to its founding year in 1843 Initially the weekly published basic international trade figures and tables 108 109 The paper first included a graphical model in 1847 with a bubble chart detailing precious metals and its first non epistolary chart was included in its 1854 issue charting the spread of cholera 108 This early adoption of data based articles was estimated to be a 100 years before the field s modern emergence by Data Journalism com 109 Its transition from broadsheet to magazine style formatting led to the adoption of coloured graphs first in fire engine red during the 1980s and then to a thematic blue in 2001 108 The Economist told their readers throughout the 2000s that the paper s editors had developed a taste for data driven stories 108 Starting in the late 2000s they began to publish more and more articles that centred solely on charts some of which began to be published daily 108 The daily charts are typically followed by a short 300 word explanation In September 2009 The Economist launched a Twitter account for their Data Team 110 In 2015 the weekly formed a dedicated team of 12 data analysts designers and journalists to head up their firm wide data journalism efforts 111 In order to ensure transparency in their data collection The Economist maintains a corporate GitHub account to publicly disclose all of their models and software 112 In October 2018 they introduced their Graphic Detail feature in both their print and digital editions 112 The Graphic Detail feature would go on to include mainly graphs maps and infographics 113 The Economist s Data Team won the 2020 Sigma Data Journalism Award for Best Young Journalists 114 In 2015 they placed third for an infographic describing Israel s coalition networks in the year s Data Journalism Awards by the Global Editors Network 115 Indexes edit Historically the publication has also maintained a section of economic statistics such as employment figures economic growth and interest rates These statistical publications have been found to be seen as authoritative and decisive in British society 116 The Economist also publishes a variety of rankings seeking to position business schools and undergraduate universities among each other respectively In 2015 they published their first ranking of U S universities focusing on comparable economic advantages Their data for the rankings is sourced from the U S Department of Education and is calculated as a function of median earnings through regression analysis 117 Among others the most well known data indexes the weekly publishes are The Big Mac Index a measure of the purchasing power of currencies first published in 1986 using the price of the hamburger in different countries 118 119 This is published twice a year since 2006 annually prior to that 120 Democracy Index a measure of the state of democracy in the world produced by the paper s Economist Intelligence Unit EIU The Glass Ceiling Index a measure of female equality in the workplace The Most Dangerous Cities Index a measure of major cities by rates of homicide Commodity Price Index a measure of commodities such as gold and brent oil as well as agricultural itemsOpinions editMain article The Economist editorial stance The editorial stance of The Economist primarily revolves around classical social and most notably economic liberalism Since its founding it has supported radical centrism favouring policies and governments that maintain centrist politics The newspaper typically champions neoliberalism particularly free markets free trade free immigration deregulation and globalisation 121 When the newspaper was founded the term economism denoted what would today be termed economic liberalism The activist and journalist George Monbiot has described it as neoliberal while occasionally accepting the propositions of Keynesian economics where deemed more reasonable 122 The weekly favours a carbon tax to fight global warming 123 According to one former editor Bill Emmott the Economist s philosophy has always been liberal not conservative 124 Alongside other publications such as The Guardian The Observer and The Independent it supports the United Kingdom becoming a republic 125 nbsp Scottish economist Adam Smith right and philosopher David Hume left represent the newspaper s foundational beliefs of laissez faire policies self sufficiency anti protectionism and free trade Individual contributors take diverse views The Economist favours the support through central banks of banks and other important corporations This principle can in a much more limited form be traced back to Walter Bagehot the third editor of The Economist who argued that the Bank of England should support major banks that got into difficulties Karl Marx deemed The Economist the European organ of the aristocracy of finance 126 The newspaper has also supported liberal causes on social issues such as recognition of gay marriages 127 legalisation of drugs 128 criticises the U S tax model 129 and seems to support some government regulation on health issues such as smoking in public 130 as well as bans on smacking children 131 The Economist consistently favours guest worker programmes parental choice of school and amnesties 132 and once published an obituary of God 133 The Economist also has a long record of supporting gun control 134 The Economist has endorsed the Labour Party in 2005 the Conservative Party in 2010 and 2015 135 136 and the Liberal Democrats in 2017 and 2019 at general election time in Britain and both Republican and Democratic candidates in the United States Economist com puts its stance this way What besides free trade and free markets does The Economist believe in It is to the Radicals that The Economist still likes to think of itself as belonging The extreme centre is the paper s historical position That is as true today as when Crowther Geoffrey Economist editor 1938 1956 said it in 1955 The Economist considers itself the enemy of privilege pomposity and predictability It has backed conservatives such as Ronald Reagan and Margaret Thatcher It has supported the Americans in Vietnam But it has also endorsed Harold Wilson and Bill Clinton and espoused a variety of liberal causes opposing capital punishment from its earliest days while favouring penal reform and decolonisation as well as more recently gun control and gay marriage 22 In 2008 The Economist commented that Cristina Fernandez de Kirchner the president of Argentina at the time was Dashing hopes of change Argentina s new president is leading her country into economic peril and social conflict 137 The Economist also called for Bill Clinton s impeachment 138 and after the emergence of the Abu Ghraib torture and prisoner abuse 139 for Donald Rumsfeld s resignation Though The Economist initially gave vigorous support for the U S led invasion of Iraq it later called the operation bungled from the start and criticised the almost criminal negligence of the Bush Administration s handling of the war while maintaining in 2007 that pulling out in the short term would be irresponsible 140 In an editorial marking its 175th anniversary The Economist criticised adherents to liberalism for becoming too inclined to protect the political status quo rather than pursue reform 141 The paper called on liberals to return to advocating for bold political economic and social reforms protecting free markets land and tax reform in the tradition of Georgism open immigration a rethink of the social contract with more emphasis on education and a revival of liberal internationalism 141 Circulation editEach of The Economist issues official date range is from Saturday to the following Friday The Economist posts each week s new content online at approximately 21 00 Thursday evening UK time ahead of the official publication date 142 From July to December 2019 their average global print circulation was over 909 476 while combined with their digital presence runs to over 1 6 million 53 However on a weekly average basis the paper can reach up to 5 1 million readers across their print and digital runs 53 Across their social media platforms it reaches an audience of 35 million as of 2016 143 In 1877 the publication s circulation was 3 700 and in 1920 it had risen to 6 000 Circulation increased rapidly after 1945 reaching 100 000 by 1970 22 Circulation is audited by the Audit Bureau of Circulations ABC From around 30 000 in 1960 it has risen to near 1 million by 2000 and by 2016 to about 1 3 million 144 Approximately half of all sales 54 originate in the United States with sales in the United Kingdom making 14 of the total and continental Europe 19 41 Of its American readers two out of three earn more than 100 000 a year The Economist has sales both by subscription and at newsagents in over 200 countries The Economist once boasted about its limited circulation In the early 1990s it used the slogan The Economist not read by millions of people Never in the history of journalism has so much been read for so long by so few wrote Geoffrey Crowther a former editor 145 Censorship edit nbsp A copy of The Economist in Liaoning Provincial Library Page 28 from the 1 June 2019 issue about the 1989 Tiananmen Square Protests has been removed Sections of The Economist criticising authoritarian regimes are frequently removed from the paper by the authorities in those countries Like many other publications The Economist is subjected to censorship in Iran On 15 June 2006 Iran banned the sale of The Economist when it published a map labelling the Persian Gulf simply as Gulf a choice that derives its political significance from the Persian Gulf naming dispute 146 In a separate incident the government of Zimbabwe went further and imprisoned The Economist s correspondent there Andrew Meldrum The government charged him with violating a statute on publishing untruth for writing that a woman was decapitated by supporters of the ruling Zimbabwe African National Union Patriotic Front party The decapitation claim was retracted 147 and allegedly fabricated by the woman s husband The correspondent was later acquitted only to receive a deportation order On 19 August 2013 The Economist disclosed that the Missouri Department of Corrections had censored its issue of 29 June 2013 According to the letter sent by the department prisoners were not allowed to receive the issue because 1 it constitutes a threat to the security or discipline of the institution 2 may facilitate or encourage criminal activity or 3 may interfere with the rehabilitation of an offender 148 See also editList of business newspapers List of newspapers in the United KingdomNotes edit The Concise Dictionary of National Biography makes him assistant editor 1858 1860 He was Wilson s son in law A journalist and biographerReferences edit a b c Bloomgarden Smoke Kara 2 September 2013 The Economist Is a Newspaper Even Though It Doesn t Look Like One Observer Archived from the original on 9 August 2020 a b Iber 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