Econospinning (How to Read Between the Lines When the Media Manipulate the Numbers)

Gene Epstein knows a thing or two about economic data. Beforebecoming the Economics Editor for Barron's in 1993, he was a senioreconomist at the New York Stock Exchange. Now inEconospinning, Epstein supplies readers with a book thatattempts to cut through the veil of economic misinformationcommonly reported in today's media.

Assuming no prior knowledge on the readers part, each chapter ofEconospinning is structured around fairly simplepropositions about the economy or about specific economicdata—from tracking employment numbers to measuring corporateprofitability—that are then contrasted with the distortionsof today's media coverage.

Along the way, Epstein exposes bad reporting by the elite media,including The Wall Street Journal, The Financial Times,The New York Review of Books, The New Yorker, TheEconomist—and especially by The New York Times andits economics columnist Paul Krugman,

Epstein also deconstructs CNN newscaster Lou Dobbs’coverage of outsourcing and globalization; the illusory connectionbetween abortion and lower crime rates, and bad theories about therole of real estate brokers, featured in the bestsellerFreakonomics; the treatment of the working class portrayedin Barbara Ehrenreich’s Nickel and Dimed; and thesensationalized coverage of the employment report by CNBC’s"Squawk Box."

From the disputes over Social Security to misinterpretations ofthe unemployment rate, Econospinning points out theunfortunate lack of integrity that pervades mainstream economicreporting.

Gene Epstein (New York, NY) has been Barron's Economics Editorsince 1993 and writes the column, "Economic Beat." A frequentspeaker on the conference circuit, Epstein has been interviewed onCNBC, CNN, NJN Public TV, and BBC TV. He holds an MA in economicsfrom the New School and a BA from Brandeis University.

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