Skip to main content

Bad Economics at The Economist

The Economist’s recent performance had been less-than-robust, with many long-term readers losing sympathy with the paper’s EU obsessions and woke lurch exemplified by the title’s new slogan “in pursuit of progress since 1843”. Now, with falling advertising and newsstand revenues, the company has just put out the first profits warning to shareholders in living memory, consoling them with the knowledge that the CEO, non-executive directors and senior management would not be taking bonuses and will be taking double-digit pay cuts. 100 people have been laid off from the commercial side – not a single journalist. 

For the editor, Zanny Minton Beddoes, that means she’ll have to get by on a meagre £364,000 (based on her 2019 salary of £455,000). It will not come as a total surprise that the Economist’s overall commercial performance is suffering. Zanny can’t bear to be around the vulgar commercial people who sell the things like advertising, conferences and the subscriptions which pay her and her team’s far more generous salaries. Zanny’s grand offices for her and her journalists in John Adam Street cost three times the rent in Canary Wharf – to where the salespeople have been shunted off. The morale of the sales team she needs to pull her out of this crisis is, unsurprisingly, not great.

Nobody personifies the woke metropolitan elite more than Zanny Minton Beddoes, who has been editor of the Economist since 2015. Has the shift to a more woke editorial slant been good for business? How non-executive director and major shareholder John Elkann (scion of the Agnelli family) feels about this is unclear. The Economist’s constitution means that in practice the editor can’t be fired. So even if at times it seems to shareholders like the lunatics run the asylum, there is little they can do about it.

* This article was originally published by Guido Fawkes


Popular posts from this blog

Politicians are wrong about what the public want

So the, out of touch political elite are trying to say that the public would be happy to cough up an extra £2000 a year, per household to prop up the NHS? 
Advertisers website Wrong! While many British families struggle to make ends meet, the political elite thinks that people will be glad to fund a failing business that is being run into the ground because of their failed policies on how the NHS is managed?

No. This just shows that we have monkeys running our country! Many people on Facebook have shared the above post on various pages; a large number of those people don't even do politics. If our political elite were more than just yes men weighed down by the chains of political correctness, they would see that the people of Britain have had enough. 
Ever increasing taxation to try and fix their mistakes? 
Continuiosly using the NHS as a stick to beat the opposition or a classic party political paper dragon! (Paper Dragon): a politician or political party whocampaign to fox the proble…

PETITION - Keep Swinson OUT of the Lords

Keep Jo Swinson from being given a Peerage.
Sign the petition and share this everywhere

If Jo Swinson is given honors, it will be a scandal and ANOTHER Nail in the coffin for the House of Lords. Sign the petition


Priti Patel uses loophole in EU free-movement laws to deport three foreign crooks on private jet

THREE violent criminals jailed for rape and torture have been deported by private jet under plans to speed up the removal of foreign offenders. They were sent back to Lithuania together on a small… Read the full Article Priti Patel uses loophole in EU free-movement laws to deport three foreign crooks on private jet