The 15 Most Important Econ. Journalists

by Tunku Varadarajan Info

Tunku Varadarajan is a national affairs correspondent and writer at large for The Daily Beast. He is also the Virginia Hobbs Carpenter Fellow in Journalism at Stanford's Hoover Institution and a professor at NYU's Stern Business School. He is a former assistant managing editor at The Wall Street Journal. (Follow him on Twitter here.)

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Canvassing 100 industry insiders and academics, Tunku Varadarajan identifies the most important writers on business and economics who are helping us navigate the turbulent times.

Has there ever been an era in modern history in which the popular thirst for economic explanation has been greater than it is now? The Great Recession has thrust economics into the heart of our politics. Deficits, taxes, spending, debt, the yuan, outsourcing, unemployment, health-care reform, social security, financial regulation—these are all economic questions that will be fought over in the mid-term elections in November—not to mention in 2012, when President Obama comes up for re-election.

Gallery: America’s Top Economic & Business Commentators

Acknowledging the centrality of economics in our public discourse, The Daily Beast has set out to identify the most important commentators on the subject in the American media, canvassing a total of 100 academics, Wall Streeters and managers in industry. A few ground rules: We have limited our list to journalist-commentators, excluding academic economists who write frequently for the popular media (such as Nouriel Roubini of NYU, John Taylor of the Hoover Institution and Stanford, Jagdish Bhagwati of Columbia, Robert Frank of Cornell and others.). This is not a list of the most consequential economists, for therein lies mayhem! Instead, it is a list of those who interpret our economic life for us.

We have included the Financial Times as part of the “American” media, and also—in spite of our “no academics” rule—included Paul Krugman of Princeton (and The New York Times). It was the view of far too many of those we canvassed that excluding him would be, as one professor put it, “very silly indeed.”

Tunku Varadarajan is a national affairs correspondent and writer at large for The Daily Beast. He is also the Virginia Hobbs Carpenter Fellow in Journalism at Stanford's Hoover Institution and a professor at NYU's Stern Business School. He is a former assistant managing editor at The Wall Street Journal. (Follow him on Twitter here.)

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James Grant? Really? Wow..... Yeah the man can write, there's no doubt about that. But he's just a standard goldbug-Austrian who can't understand even a single case where money-printing makes sense. He claims we should have the money supply fixed to a constant supply of gold (when Milton Friedman, whose libertarian credentials are unquestioned, would tell you that's crap). Grant would have you believe that money printing always makes the aggregate poorer, but if that's the case, why has he never been steadfast in calling for all-out money destruction...purchasing power (the source of prosperity for guys like Grant) would increase if the Fed took actions to substantially reduce the money supply... the reason he doesn't suggest this is that it's a terrible idea that would hurt mostly everyone, but the poor especially. Goldbug-Austrians like Grant also have trouble explaining basic phenomena such as unemployment fluctuations along the business cycle. And worst of all, they choose to be thoroughly UN-rigorous...they just like to say events validate their theories without actually running any detailed studies, let alone run basic regressions. On a positive note, I'm glad to see Ritholtz on this list.

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Tunku Varadarajan is a national affairs correspondent and writer at large for The Daily Beast. He is also the Virginia Hobbs Carpenter Fellow in Journalism at Stanford's Hoover Institution and a professor at NYU's Stern Business School. He is a former assistant managing editor at The Wall Street Journal. (Follow him on Twitter here.)

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Tunku Varadarajan is a national affairs correspondent and writer at large for The Daily Beast. He is also the Virginia Hobbs Carpenter Fellow in Journalism at Stanford's Hoover Institution and a professor at NYU's Stern Business School. He is a former assistant managing editor at The Wall Street Journal. (Follow him on Twitter here.)

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Tunku Varadarajan is a national affairs correspondent and writer at large for The Daily Beast. He is also the Virginia Hobbs Carpenter Fellow in Journalism at Stanford's Hoover Institution and a professor at NYU's Stern Business School. He is a former assistant managing editor at The Wall Street Journal. (Follow him on Twitter here.)

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