America’s Sleeping Watch Dog

By 2001, it was clear that George W. Bush's lazy arrogance was resulting in policy decisions that were essentially random. Yet America's press corps gave the administration a pass for five more years.

I want to deviate from my usual economic theme this month and focus instead on the system by which the press – mostly the American press – covers government nowadays. But perhaps this is not too great a deviation, for the behavior of the press affects not only politics, but economics as well.