Why the Old Media Ignore Ron Paul

Professor DiLorenzo reports:

More than thirty years ago University of Rochester economists William Meckling and Michael Jensen authored a thought-provoking article on the sources of "liberal bias" in the media. Being Chicago School-style economists, their thesis was based, naturally, on a rigorous exploration of how the media best pursue their own self-interest, coupled with an analysis of the role of government in shaping that self-interest. In short, their thesis was that government had by that time become so big and pervasive that your average journalist – even local news reporters – relied on government itself and all of its politicians and bureaucrats for most of the information that they "report." If one is an environmental reporter, for example, one must cultivate relationships with EPA bureaucrats who are the source of the latest news about environmental policy. If one is a labor reporter, one must cultivate relationships with U.S. Department of Labor bureaucrats who are the source of the latest news about labor policy, and so on.

An article well worth your time.