The Economist

Lore & Background

Its original prospectus enumerated thirteen areas of coverage, including free-trade principles, political economy, parliamentary reports, and commercial topics. Wilson described the publication as taking part in 'a severe contest between intelligence, which presses forward, and an unworthy, timid ignorance obstructing our progress,' a phrase that still appears on its masthead. Over time, its coverage expanded into political economy, current events, finance, commerce, and British politics, and it added opinion columns, special reports, political cartoons, reader letters, cover stories, art critique, book reviews, and technology features. The publication has long been respected as 'one of the most competent and subtle Western periodicals on public affairs.' It was cited by Karl Marx in his formulation of socialist theory, as he felt it epitomized the interests of the bourgeoisie. In 1981, it introduced a North American edition, and in January 2012, it launched a weekly section devoted exclusively to China.

Reader's Guide

The Economist's significance lies in its long-standing role as a newspaper of record in the UK and its influence among business leaders and policy-makers. Its editorial stance, rooted in classical, social, and economic liberalism, champions free markets, free trade, free immigration, deregulation, and globalization, and it has supported radical centrism and centrist politics. The publication's use of anonymous articles allows it to speak as one collective voice, and its extensive use of word play and high subscription price have linked it with a high-income elite readership, drawing both positive and negative connotations. It has faced criticism for its focus on interpretive analysis over original reporting, with some commentators arguing that its editorial lines contradict the news stories it highlights. The Economist has also been accused of conflicts of interest due to its advertising for the fossil fuel industry, raising concerns about the credibility of its climate change reporting.

Did You Know?

• Individual articles are written anonymously, with no byline, to allow the paper to speak as one collective voice.
• The publication's fire engine red nameplate was created by Reynolds Stone in 1959.