Why media won’t stop telling same lie
The American media has a bootleggers-and-Baptists problem. “Bootleggers and Baptists” is one of the most useful concepts in understanding how economic regulation works in the real world. Coined by economist Bruce Yandle, the term describes how groups that are ostensibly opposed to each other have a shared interest in maintaining the status quo. Baptists favored prohibition, and so did bootleggers who profited by selling illegal alcohol. And politicians benefited by playing both sides. There’s an analogous dynamic with the press today. Across the ideological spectrum, from the ...