Who is credited with founding The Economist, and in what year did it first begin publication?

The Economist was founded by James Wilson, a Scottish businessman and banker, in September 1843. Wilson established the publication with the aim of advocating for the repeal of the Corn Laws, a system of import tariffs in Britain.

What was the primary objective of The Economist when it was founded in 1843?

The Economist was founded by James Wilson primarily to campaign for the repeal of the Corn Laws, which were a series of protectionist tariffs on imported grain. The publication aimed to promote free-trade principles and influence public opinion and policy on this critical economic issue.

What were the thirteen areas of coverage outlined in The Economist's prospectus from August 1843?

The prospectus for The Economist, issued on August 5, 1843, detailed thirteen key areas of coverage. These included original leading articles applying free-trade principles, articles on practical commercial, agricultural, or foreign topics, explanations of political economy, parliamentary reports focused on commerce and trade, reports on popular free-trade movements, general news from various regions of Britain, commercial topics like market conditions and finance, agricultural topics with scientific applications, colonial and foreign affairs emphasizing trade, law reports relevant to commerce, book reviews focusing on economics, a commercial gazette with statistics, and reader correspondence.

What is the mission statement of The Economist, as stated in its imprint?

The Economist's mission statement, which still appears on its imprint (or masthead in the US), is derived from founder James Wilson's description of the publication's role: to take part in a 'severe contest between intelligence, which presses forward, and an unworthy, timid ignorance obstructing our progress'.

What are the main topics covered by The Economist?

The Economist covers a wide range of topics including economics, business, geopolitics, technology, and culture. It is known for its focus on interpretive analysis and data journalism, offering commentary on global affairs.

How is The Economist described in terms of its format and content?

The Economist is described as a British news and current affairs journal published in a weekly print magazine format and daily on digital platforms. It is variously referred to as a magazine and a newspaper, and it emphasizes data journalism and interpretive analysis over original reporting.

What is the characteristic tone and voice of The Economist's articles?

The Economist's articles are known for their uniform voice, often perceived as having a dry, understated wit and precise use of language. This consistency is aided by the tradition of anonymous authorship, allowing the publication to speak as a collective voice.

How does The Economist ensure a uniform voice across its publications?

The Economist ensures a uniform voice throughout its pages through a long-standing tradition of anonymous authorship, meaning most articles are written without bylines. This practice is intended to present a single, collective perspective, which contributes to a consistent tone and personality for the publication.

What is the typical approach of The Economist when discussing economic concepts?

The Economist assumes a working familiarity with fundamental concepts of classical economics, often explaining complex ideas concisely without defining basic terms like 'invisible hand' or 'demand curve'. While accessible to the educated layperson, its writing style can be dense with information.

How does The Economist utilize wordplay, and what effect does this have?

The Economist is recognized for its extensive use of wordplay, including puns, allusions, and metaphors, particularly in its headlines and captions. This stylistic element, along with alliteration and assonance, contributes to its distinctive voice but can sometimes pose a challenge for non-native English speakers.

What is the role of data journalism in The Economist's content?

Data journalism has been a feature of The Economist since its founding in 1843, initially through trade figures and tables. The publication has continued to integrate data and graphics, developing a dedicated data journalism department in 2015 to produce articles centered on charts, election forecasting models, and other data-driven analyses.

What is the purpose of the 'Technology Quarterly' (TQ) feature?

The 'Technology Quarterly,' or TQ, is a special section published by The Economist every three months that focuses on recent trends and developments in science and technology. It often explores themes related to technology and its intersection with economic matters.

What is the focus of the '1843' lifestyle magazine?

'1843' is The Economist's sister lifestyle magazine, which evolved from 'Intelligent Life'. It focuses on analyzing insights and predictions for the luxury landscape and covers topics such as arts, style, food, and travel, with a motto of 'Stories of An Extraordinary World'.

What are the 'The World Ahead' features, and what do they entail?

'The World Ahead' is a franchise under which The Economist produces annual review and predictive reports, titled 'The World In [Year]' and 'The World If [Year]'. These features summarize social, cultural, economic, and political events that shaped the past year and will influence the near future.

How did The Economist's coverage evolve from its founding?

Initially focused on advocating for the repeal of the Corn Laws, The Economist gradually expanded its coverage to include political economy, current events, finance, commerce, and British politics. Over time, it further broadened its scope by adding opinion columns, special reports, reader letters, and critiques.

What was The Economist's stance in the currency disputes of the mid-nineteenth century?

In the currency disputes of the mid-nineteenth century, The Economist sided with the Banking School against the Currency School. It criticized the Bank Charter Act of 1844, which limited the Bank of England's note issuance based on Currency School policies, attributing financial crises to excessive bank note issues rather than other factors.

How did The Economist's format change in 1971?

In 1971, The Economist transitioned from its large broadsheet format to a smaller, magazine-style perfect-bound format. This change marked a significant shift in its physical presentation.

What significant change occurred in The Economist's editorial structure in January 2012?

In January 2012, The Economist launched a new weekly section dedicated exclusively to China. This was the first new country-specific section introduced since the addition of a section on the United States in 1942.

What criticisms have been leveled against The Economist regarding its editorial lines and reporting?

Criticisms have included James Fallows' observation in The Washington Post that editorial lines sometimes contradicted news stories, and Andrew Sullivan's complaint in The New Republic about the use of 'marketing genius' to compensate for reporting deficiencies. The Guardian noted a tendency to advocate privatization, deregulation, and liberalization for most problems.

What was the outcome of the sale of Pearson's stake in The Economist in August 2015?

In August 2015, Pearson sold its 50% stake in The Economist to the Agnelli family's investment company, Exor, for £469 million. The Economist itself re-acquired the remaining shares for £182 million, distributing them to current shareholders.

What concerns have journalists at The Economist raised regarding fossil fuel advertising?

Journalists covering climate change for The Economist have expressed concern that conflicts of interest arising from advertising by fossil fuel companies could undermine the credibility of their reporting on climate change and lead readers to downplay the climate crisis.

Who is the current editor-in-chief of The Economist?

The current editor-in-chief of The Economist is Zanny Minton Beddoes, who was appointed to the role in 2015. She first joined the publication as an emerging markets correspondent in 1994.

Who are some of the notable past editors of The Economist?

Notable past editors of The Economist include its founder James Wilson (1843-1857), the influential Walter Bagehot (1861-1877), Geoffrey Crowther (1938-1956), Donald Tyerman (1956-1965), Sir Alastair Burnet (1965-1974), Andrew Knight (1974-1986), Bill Emmott (1993-2006), and John Micklethwait (2006-2014).

What is the ownership structure of The Economist?

The Economist is owned by The Economist Group. Historically, Pearson plc held a 50% stake, but this was sold in 2015 to Exor, the investment company of the Agnelli family, making them the largest shareholder. Other smaller shareholders include Cadbury, Rothschild, Schroders, and Layton family interests, as well as staff shareholders.

Where are the primary editorial offices of The Economist located?

While The Economist is mostly written and edited in London, it maintains other editorial offices in major cities across the United States (New York City, Los Angeles, Chicago, Washington D.C.), continental Europe, Asia, and the Middle East, reflecting its global scope.

What is the 'Big Mac Index,' and when was it first published?

The 'Big Mac Index' is a measure of purchasing power parity of currencies, first published by The Economist in 1986. It uses the price of McDonald's Big Mac hamburger in different countries as a benchmark to compare currency values.

What does the 'Democracy Index' measure, and who produces it?

The 'Democracy Index' is produced by The Economist's research arm, the Economist Intelligence Unit (EIU). It measures the state of democracy in countries around the world, assessing factors such as electoral processes, civil liberties, and political culture.

What is the purpose of the 'Glass Ceiling Index'?

The 'Glass Ceiling Index' is an index published by The Economist that measures female equality in the workplace. It assesses factors such as women's representation in leadership roles, pay gaps, and access to parental leave.

What are the 'Country of the Year' awards, and what criteria are used?

The 'Country of the Year' award, initiated by The Economist in 2013, recognizes the country that has shown the most improvement over the preceding year. The selection is made by the newspaper's editors based on political and economic reforms, democratic progress, or other significant positive developments.

What types of books does The Economist publish?

In addition to its main publication and lifestyle magazine, The Economist publishes books that often overlap with its newspaper's topics. These include collections of its articles and columns, as well as technical manuals authored by its correspondents on their areas of expertise.

What is the 'Espresso' news app, and how is it accessed?

The 'Espresso' is a short-form news app launched by The Economist in 2014. It provides a daily briefing from the editors, published every day except Sunday, and is available to paid subscribers or as a separate subscription.

What are some of the podcast series produced by The Economist?

The Economist produces several podcast series, including 'The Intelligence' for general news, 'Editor's Picks' featuring audio recordings of published articles, 'Drum Tower' focusing on China, 'Babbage' on technology, 'Money Talks' on finance and business, 'Checks and Balance' on American politics, and 'The Weekend Intelligence' for long-form reports.

What is the primary editorial stance of The Economist regarding political and economic liberalism?

The editorial stance of The Economist primarily revolves around classical, social, and economic liberalism. It consistently champions economic liberalism, advocating for free markets, free trade, deregulation, and globalization, while also supporting radical centrism and centrist politics.

What specific policies does The Economist typically champion?

The Economist typically champions economic liberalism, advocating for free markets, free trade, free immigration, deregulation, and globalization. It also favors a carbon tax to combat global warming and supports liberal causes on social issues such as gay marriage and drug legalization.

What is The Economist's stance on the UK monarchy?

The Economist, along with other publications like The Guardian and The Independent, supports the United Kingdom becoming a republic, indicating a stance against the monarchy.

What social issues has The Economist supported?

The Economist has supported liberal causes on social issues, including recognition of gay marriages and the legalization of drugs. It has also advocated for gun control and opposed capital punishment, favoring penal reform and decolonization.

What is The Economist's historical position on gun control?

The Economist has a consistent record of supporting gun control measures, reflecting its broader stance on social liberalism and government regulation for public safety.

How has The Economist's political endorsements evolved over time in UK general elections?

The Economist has endorsed various UK political parties over time. It supported the Labour Party in 2005 and 2024, the Conservative Party in 2010 and 2015, and the Liberal Democrats in 2017 and 2019, demonstrating a pragmatic approach to endorsements based on perceived policy alignment.

What was The Economist's stance on the U.S.-led invasion of Iraq?

Initially, The Economist gave vigorous support to the U.S.-led invasion of Iraq. However, it later criticized the operation as 'bungled from the start' and pointed to 'almost criminal negligence' in the Bush Administration's handling of the war, while still maintaining that a short-term withdrawal would be irresponsible.

What is the approximate global print circulation of The Economist as of 2019?

As of the period from July to December 2019, The Economist's average global print circulation was reported to be over 909,476 copies per week.

How does The Economist's total reach compare when combining print and digital presence?

When combining its print and digital presence, The Economist's weekly runs reach over 1.6 million, and on a weekly average basis, it can reach up to 5.1 million readers across all its platforms.

What was The Economist's circulation in 1877, and how has it grown?

The Economist's circulation was approximately 3,700 in 1877. It experienced significant growth, reaching 100,000 by 1970 and nearing 1 million by 2000, indicating substantial expansion over the decades.

Where do the majority of The Economist's sales originate?

The majority of The Economist's sales, approximately 54%, originate in the United States. Sales in the United Kingdom account for 14% of the total, and continental Europe contributes 19%.

What was The Economist's past slogan regarding its circulation?

In the early 1990s, The Economist used the slogan 'The Economist – not read by millions of people,' and a former editor, Geoffrey Crowther, famously described its readership as 'so much read for so long by so few,' highlighting its niche, influential audience.

In which countries has The Economist faced censorship, and for what reasons?

The Economist has faced censorship in countries like Iran, which banned its sale in 2006 due to a map labeling the Persian Gulf simply as 'Gulf,' referencing the naming dispute. Sections criticizing authoritarian regimes are frequently removed by authorities in those countries.

What incident led to The Economist's correspondent Andrew Meldrum being imprisoned in Zimbabwe?

Andrew Meldrum, The Economist's correspondent in Zimbabwe, was imprisoned and later deported after being charged with violating a statute on 'publishing untruth.' The charge stemmed from a report alleging a woman was decapitated by supporters of the ruling ZANU-PF party, a claim that was later retracted and allegedly fabricated by the woman's husband.

What reasons were cited by the Missouri Department of Corrections for censoring an issue of The Economist?

The Missouri Department of Corrections cited reasons such as the issue constituting a threat to the security or discipline of the institution, potentially facilitating criminal activity, or interfering with offender rehabilitation as grounds for censoring an issue of The Economist.

Who is credited with the creation of The Economist's distinctive fire-engine red nameplate?

The distinctive fire-engine red nameplate (masthead) of The Economist was created by Reynolds Stone in 1959.

What is the significance of the column names like 'Bagehot', 'Banyan', and 'Lexington'?

The column names in The Economist often reflect their subject matter or are named after significant figures or places. For example, 'Bagehot' is named after a former editor and constitutional expert, 'Banyan' refers to the tree prominent in Asia, and 'Lexington' is named after the site of the American Revolutionary War's beginning, with each column focusing on specific regions or topics.

How did Karl Marx and Vladimir Lenin refer to The Economist?

Karl Marx referred to The Economist as the 'European organ of the aristocracy of finance,' epitomizing the interests of the bourgeoisie. Vladimir Lenin described it as a 'journal that speaks for British millionaires' and characterized its stance as 'bourgeois-pacifist,' suggesting it supported peace out of fear of revolution.

What is the 'World in [Year]' feature, and who collaborates on its Urdu-language version in Pakistan?

The 'World in [Year]' is an annual review and predictive report published by The Economist as part of its 'The World Ahead' franchise, forecasting social, cultural, economic, and political trends. An Urdu-language version of this feature is distributed in Pakistan in collaboration with Jang Group.

The Economist Wiki: The Economist: A Global Chronicle of Ideas and Influence

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Overview

Global Perspective

The Economist is a distinguished British publication, renowned for its weekly print magazine and daily digital presence. It offers comprehensive coverage of economics, business, geopolitics, technology, and culture. Primarily produced in London, it maintains editorial hubs in the United States and key international cities, providing a truly global perspective on current affairs.^[8]^[9]

Editorial Voice

Characterized by its distinctive analytical depth and interpretive approach, The Economist is known for its focus on interpretive analysis rather than original reporting. This approach, often employing sophisticated wordplay and a concise prose style, contributes to its reputation as a publication that speaks with a unified, authoritative voice.^[6]^[7]

Data-Driven Insights

Since its inception, The Economist has prominently featured data journalism, utilizing charts, graphs, and statistical analysis to illuminate complex global issues. This commitment to data-driven reporting, evident from its earliest issues, positions it as a forward-thinking publication in the media landscape.^[129]^[130]

Historical Trajectory

Founding Principles

Established in September 1843 by Scottish economist James Wilson, The Economist was initially conceived to advocate for the repeal of the Corn Laws, a system of import tariffs. Wilson envisioned the publication as a platform for intellectual discourse, aiming to champion "intelligence" against "ignorance" and apply free-trade principles rigorously to contemporary issues.^[13]^[14]^[15]

Evolution and Influence

Over its long history, The Economist expanded its scope from political economy to cover a wide array of topics, including finance, commerce, and global politics. It has adapted its format, moving from a broadsheet newspaper to a perfect-bound magazine, and has consistently maintained a readership among influential business leaders and policymakers.^[8]^[12]

1843: Founded by James Wilson to advocate for the repeal of the Corn Laws.
Mid-20th Century: Significant expansion in layout and content, adding opinion columns, special reports, and diverse features.
1971: Transitioned from broadsheet format to a smaller, perfect-bound magazine style.
1981: Launched a North American edition, significantly increasing its international reach.
2012: Introduced a dedicated weekly section focusing on China.
2015: Exor, the Agnelli family's investment company, became the largest shareholder.

Editorial Stance

The publication's editorial philosophy is rooted in classical and economic liberalism, advocating for free markets, free trade, deregulation, and globalization. It is known for its support of centrist politics and often champions policies that promote economic growth and social progress.^[3]^[4]

Organizational Framework

Group Affiliation

The Economist operates as a distinct entity within The Economist Group, a global media and education organization. This structure allows for synergy across various media platforms while maintaining the publication's unique editorial identity.^[40]

Shareholder Landscape

The ownership structure is diverse, featuring significant stakes held by prominent families and institutions, including the Agnelli family (Exor), the Cadbury family, and the Rothschild family, alongside other family interests and staff shareholders. This broad base of ownership contributes to its independence.^[38]^[44]

Operational Hubs

While its primary editorial operations are based in London, The Economist maintains significant editorial offices and substantial operations in major cities across the United States, including New York, Los Angeles, Chicago, and Washington D.C., reflecting its substantial American readership.^[46]^[47]

Core Philosophy

Liberalism and Centrism

The Economist champions a blend of classical, social, and economic liberalism, often aligning with radical centrism. It consistently advocates for policies such as free markets, free trade, deregulation, globalization, and open immigration, viewing these as drivers of progress and prosperity.^[3]^[4]

Foundational Beliefs

The publication draws inspiration from Enlightenment thinkers like Adam Smith and David Hume, embodying principles of laissez-faire economics, self-sufficiency, and free trade. It critiques protectionism and advocates for policies that foster economic liberty and individual opportunity.^[145]

Advocacy for free markets and free trade.
Support for deregulation and globalization.
Emphasis on economic liberalism and fiscal responsibility.
Promotion of social liberalism, including support for gay marriage and drug legalization.
Commitment to environmental policies, such as carbon taxes.
Critique of privilege and advocacy for reform.

Uniform Voice

A defining characteristic is its tradition of editorial anonymity, ensuring a consistent and collective voice across all articles. This practice, while sometimes criticized, is intended to reinforce the publication's unified perspective and focus on the substance of arguments over individual authorship.^[51]^[52]^[53]

Distinctive Features

Regular Columns

The Economist features several named columns that offer focused analysis on specific regions or topics, such as Bagehot (Britain), Banyan (Asia), Lexington (United States), and Charlemagne (Europe). These columns provide expert commentary and insights into contemporary issues.^[75]

Special Reports & Quarterly

The publication regularly includes in-depth special reports on various subjects and a quarterly technology report, Technology Quarterly (TQ). These features delve deeply into specific trends, offering comprehensive analysis and forward-looking perspectives on science, technology, and their economic implications.^[68]^[86]

Ancillary Publications

Beyond its core newspaper, The Economist produces the lifestyle magazine 1843 (formerly Intelligent Life) and publishes books, including technical manuals and collections of articles. It also runs writing competitions and produces various podcast series, expanding its reach and engagement.^[91]^[124]

Data Journalism & Indexes

Pioneering Data Use

The Economist has a long-standing tradition of data journalism, dating back to its founding. It pioneered the use of graphical representations and statistical analysis in reporting, establishing a reputation for data-driven insights well before the modern emergence of the field.^[129]

Key Indexes

The publication is known for creating influential economic indexes that offer unique perspectives on global markets and societal trends. These include:

Big Mac Index: A lighthearted yet insightful measure of purchasing power parity.
Democracy Index: An assessment of democratic governance worldwide, produced by the Economist Intelligence Unit.
Glass Ceiling Index: A metric evaluating gender equality in the workplace.

These indexes demonstrate the publication's commitment to quantifying and analyzing complex global phenomena.^[137]

Digital Data Efforts

In recent years, The Economist has enhanced its data journalism through dedicated teams, interactive models, and public repositories on platforms like GitHub. This ensures transparency and allows readers to engage with the methodologies behind their analyses, particularly in areas like election forecasting.^[133]

Editorial Stances

Political and Economic Views

The Economist consistently advocates for economic liberalism, free markets, and globalization. While generally supporting centrist politics, it has endorsed candidates across the political spectrum, including figures like Ronald Reagan, Margaret Thatcher, Harold Wilson, and Bill Clinton, reflecting a pragmatic approach to policy.^[25]

Global Policy Positions

The publication has taken notable stances on international affairs, including support for the U.S.-led invasion of Iraq (though later critical of its execution), advocacy for gun control, and support for social liberal causes such as gay marriage and drug legalization.^[168]^[146]^[147]^[153]

Critiques and Controversies

The publication has faced criticism for its editorial lines, including accusations of promoting neoliberalism, its handling of climate change advertising, and specific articles that have drawn controversy, such as those concerning transgender issues.^[141]^[39]^[154]

Reach and Readership

Circulation Figures

The Economist boasts a significant global circulation, with over 1.6 million combined print and digital readers weekly. Its readership is notably concentrated in the United States (approximately 54%), with a substantial portion of its American audience earning high incomes, reflecting its positioning as a publication for influential decision-makers.^[171]

Global Presence

The publication is distributed in over 200 countries, underscoring its international focus. Historically, it embraced a slogan highlighting its selective readership, "The Economist – not read by millions of people," emphasizing quality over mass appeal.^[174]

Navigating Censorship

International Restrictions

The Economist has encountered censorship in various countries, particularly those with authoritarian regimes. Sections critical of governments or sensitive to local political disputes, such as naming conventions for geographical regions, have been removed or banned.^[175]

Correspondent Challenges

In some instances, journalists associated with the publication have faced legal challenges or expulsion. The case of Andrew Meldrum in Zimbabwe, who was charged with publishing "untruths," highlights the risks journalists can face when reporting on sensitive political matters.^[176]

Institutional Censorship

Even within countries with strong press freedoms, The Economist has faced censorship in specific contexts, such as its exclusion from correctional facilities due to perceived threats to institutional security or rehabilitation efforts.^[177]

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References

The Concise Dictionary of National Biography makes him assistant editor 1858â1860.

A journalist and biographer

A full list of references for this article are available at the The Economist Wikipedia page

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The Economist

💡 Dive in with Flashcard Learning! 💡

Overview 📰

🌍 Global Perspective

✍️ Editorial Voice

📊 Data-Driven Insights

Historical Trajectory ⏳

📜 Founding Principles

📈 Evolution and Influence

🏛️ Editorial Stance

Organizational Framework 🏢

🔗 Group Affiliation

🤝 Shareholder Landscape

📍 Operational Hubs

Core Philosophy 💡

⚖️ Liberalism and Centrism

🌳 Foundational Beliefs

🗣️ Uniform Voice

Distinctive Features ✨

📰 Regular Columns

🔬 Special Reports & Quarterly

📚 Ancillary Publications

Data Journalism & Indexes 📈

📊 Pioneering Data Use

🔍 Key Indexes

💻 Digital Data Efforts

Editorial Stances 🗣️

⚖️ Political and Economic Views

🌍 Global Policy Positions

💬 Critiques and Controversies

Reach and Readership 👥

📈 Circulation Figures

🌐 Global Presence

Navigating Censorship 🚫

🌍 International Restrictions

✍️ Correspondent Challenges

🔒 Institutional Censorship

Teacher's Corner 🧑‍🏫

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References

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Disclaimer ⚠️

📜 Important Notice

Dive in with Flashcard Learning!

Overview

Global Perspective

Editorial Voice

Data-Driven Insights

Historical Trajectory

Founding Principles

Evolution and Influence

Editorial Stance

Organizational Framework

Group Affiliation

Shareholder Landscape

Operational Hubs

Core Philosophy

Liberalism and Centrism

Foundational Beliefs

Uniform Voice

Distinctive Features

Regular Columns

Special Reports & Quarterly

Ancillary Publications

Data Journalism & Indexes

Pioneering Data Use

Key Indexes

Digital Data Efforts

Editorial Stances

Political and Economic Views

Global Policy Positions

Critiques and Controversies

Reach and Readership

Circulation Figures

Global Presence

Navigating Censorship

International Restrictions

Correspondent Challenges

Institutional Censorship

Teacher's Corner

True or False?

Test Your Knowledge!

Gamer's Corner

Discover other topics to study!

References

Feedback & Support

Disclaimer

Important Notice