The Media's Top 10 Economic Myths of 2005

New from the Business & Media Institute

The Medias Top 10 Economic Myths of 2005
Whats your vote for the worst distortion of business and economic news in 2005? The bursting housing bubble? Gas prices killing the economy? Americans being stingy with foreign aid? There were plenty to choose from. See how the Business & Media Institute ranked the top 10 worst media myths of the year and how we debunked them.

Herman Cain: A Whale of a Tale
The media must think were stupid because they keep telling us the same wrong stories over and over. BMIs list of media myths is a tool the public can use to demand the truth from journalists in 2006.

Syriana: Realism or a Left-Wing Assault on Oil?
Call it Perils of capitalism, as the Los Angeles Times did on November 23, or simply an anti-industry movie that paints oil executives as bad guys and suicide bombers as sympathetic figures. Either way, George Clooneys new movie has been the darling of the media and Something you might even call realism as long as you agree oil companies are evil.

The Good, the Bad & the Ugly
The Good, the Bad & the Ugly tracks the best and worst media coverage of business and economics. Readers are invited to submit suggestions or news tips to staff writer Ken Shepherd.
This week:  Washington Post tackles regressive tariffs; CNNs Serwer pulls a 180 on housing forecast; Post calls tax cuts cost to government.

Also from BMI:

Coverage of Wal-Mart Movies Lopsided

Post Practices Boo-Hoo Economics

Harvard Professor Deflates In the Money

Do you have friends who love the free market?

Tell them about theBusiness & Media Institute and send them this copy of The Balance Sheet! They can sign up on our home page to receive The Balance Sheet each week.

It's easy -- just go to and enter your email address in the top left-hand corner.

Research, News & Commentary


News: Kuwait's oil minister is seeking to build a new oil refinery in Louisiana: We are very keen to build a refinery in the U.S., but environmental restrictions and other regulations make it difficult,'' reports Bloomberg News. 

Commentary: Ronald Bailey of Reason magazine explores how environmentalist fears of nuclear power are clashing with Kyoto signatories desperately struggling to live up to self-imposed carbon dioxide caps.


Commentary: Heritages Mark Tapscott asks, wouldnt it be nice if mainstream media outlets would ask some tough questions of advocacy groups on the Left rather than too often blindly accepting their pronouncements as gospel?

Health Care

Commentary: Former House Speaker Newt Gingrich says it's high time the Congressional Budget Office eliminated outdated economic models which have prevented market-centered health care reform from passing Congress.

Commentary: Cato analyst Radley Balko argues market-based reforms to health care can de-fang the regulatory push against food companies amidst the obesity epidemic.

Commentary: Alexander Zozos of Freedom Works blogs about how the National Health Service in Britain is considering in some cases to refuse treatment to smokers, alcohol drinkers, and the obese. Zozos says such measures could be imported across the Pond were advocates of socialized medicine to have their way in the United States.


Research: The Cato Institute releases a white paper on the success private schools are having in educating poor children in developing countries.

News: Reason magazine interviews economist Milton Friedman on the 50th anniversary of his call for school vouchers to open up public school monopolies.

News: The Associated Press reports on a growing number of black Americans abandoning government-run schools and taking up home schooling.