Assessing truth and nonbias in the changing media

Fareed Zakaria, a CNN reporter and frequent print media opinion writer was under fire earlier this year for  plagiarism.   An article in the Boston Review asks a larger question about Zakaria and other media stars:  when they take a stance, is it based on journalistic inquiry or is it "bought and paid for" by the industries that they cover?  (see link here)

 From the article:

There is another issue of journalistic ethics that should concern Zakaria’s critics: “buckraking”—accepting large fees for speaking engagements from industry interests he covers. Zakaria is one of many celebrity speakers represented by the Royce Carlton broker agency. His booking fee is proprietary information that Carlton Sedgeley, the agency’s president, refused to disclose to me. However, one person who tried to book Zakaria in 2008 for a speaking engagement was quoted a price of $75,000 for a one-hour talk, according to journalist Ken Silverstein. Such lucrative compensation has led some critics to wonder whether journalists should be permitted to accept speaking engagements from industry interests they cover. 

According to the piece, Zakaria is a proponent of fracking (shale oil recovery). From the article:

To be fair to Zakaria and to columnists and television hosts everywhere, it is very difficult to dig deeply into an issue in a short column or television segment. The more important question is whether Zakaria’s conclusions are based on careful and independent consideration of the issues. The public’s confidence in his endorsement of shale gas would be shaken much more by the revelation that he has accepted significant speaking fees from people and organizations with stakes in shale gas.

So...who do we trust for unbiased assessments of policy and risk?  If we wanted to make our own assessments, where do we start?  What role do ethics play here?

Should Millionaires Get Unemployment Benefits?

Capitol Hill lawmakers are turning to a new pet project to fix America’s finances: The millions of dollars flowing every year to millionaires via the unemployment insurance system. Link

This article discusses the unemployment insurance that is being taken by several households throughout America who have over a million dollars. These families or individuals are simply sitting on their wealth while also taking government assistance. The argument for these people is that the total dollar amount is so small that they should not even be questioned.

How do you feel about millionaires receiving unemployment advantages or assistance from the government in general?

A Speed Limit for the Stock Market

IMAGINE if the stock market were hijacked by computers that executed trades in a fraction of the time that it takes to blink. The values of well-established corporations would sometimes swing wildly from one second to the next and we slow-reacting, human investors wouldn’t know why. 

You don’t really have to imagine this. This is how our stock markets function today. (link)

Things are happening too fast and can get out of control.

Should the U.S also think about regulations for this? Thoughts?

The Math Behind Romney's Tax Plan

In a recent interview with Fox News, Mitt Romney's running mate, Paul Ryan, claimed that he did not have enough time to mathematically explain the tax plan he and Romney are advocating for. (Link)

In short, they are looking to reduce the tax rate by 20%, and yet they also claim that the total amount of tax revenue collected will not change. The article goes on to mention some ways in which the pair has planned on achieving both of these goals, but there seems to be many questions that need to be answered. What are your thoughts on this proposed tax plan? How do you think they would account for the shortfall that the article mentions if this plan was implemented?

World Bank Sees Long Crisis Effect

The European debt crisis could weigh on the world economy for years, forcing policy makers to rethink their approaches to restoring growth and boosting job creation, the World Bank's new chief economist said in an interview Monday. Link

The current crisis within the EuroZone is obviously not only effecting the countries within the group specifically, but nations throughout the world. This article discusses the changing of a global economy into one economy with the respect to how countries are dependent on each other. The debt crisis will undoubtedly have a longstanding effect for years, but people call for policy changes now to re-evaluate how other countries are impacted.

Any ideas on how these policy changes can be implemented or on the crisis itself?

Demographics and elections

Let the people choose--a key tenant of democracy.   It may be working against Romney (see link).  If this were a state race, every ten years, redistricting occurs.  This is where new voting districts are chosen (usually by the political party then in power).  Then representatives run out of these districts until the next census.  So...let the people choose sort of.

Trade Slows Around World

Global trade is stalling, dimming prospects that exports will buoy the U.S. economy in the coming months. (link)

"The problems of the advanced economies, particularly the euro zone, are being spread around the world," said Andrew Kenningham, senior global economist at Capital Economics, a London-based consulting group. "Everybody is being dragged down."

What are your opinions about this?