Exchequer

Forbes Continues to Indulge Intellectual Fraud

A thousand apologies for continuing to bore everybody with this, but Forbes’s Ralph Benko now protests that the problem with my growth piece (discussed here) is that it was not clear that I was talking about per-capita GDP.

Here is what I wrote:

 

“If you chart the growth in real per capita GDP of the United States — the growth in economic output relative to the size of the population — you will see a remarkably straight line indicating about 2 percent real growth per year.” What followed was a chart labeled “Real Per Capita GDP.”

What part of “per capita GDP” do the financial sophisticates at Forbes not understand?

I have written to Forbes’s Lewis D’Vorkin seeking a correction, to no avail. 

There are two possible explanations. One is that the editors of Forbes do not read Mr. Benko’s work. For this I would not blame them, as it is tedious and intellectually dishonest. (I do blame them for publishing it.) The second possibility is that they are aware of these errors and simply do not care about them, in which case it is a sad day for a once-proud name in American journalism.

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