Thursday, May 3, 2012

Mainstream media view of business depends on party, WFB analysis shows

The difference between a businessman being portrayed as a robber baron or a “financial wizard” may come down to party affiliation, according to an analysis of news stories by the Washington Free Beacon.
Republican presidential nominee Mitt Romney’s business record has been classified as a liability according to prominent talking heads and leading newspapers, while Democrats with similar backgrounds of financial success have been praised for their business acumen.
The Washington Post questioned Romney’s faith in capitalism during tough economic times, in an article that ran in the paper under the headline “Destruction’ or Progress?
“Romney’s past could lead voters to wonder not just about private equity but also about the costs of a modern capitalism that embraces creative destruction,” the Post wrote.
The Post did not raise the question during the rise of now Sen. Mark Warner (D., Va.), however.
Warner amassed a $200 million fortune as a telecommunications venture capitalist before being elected governor in 2001 and Senator in 2008.
“Warner ads showcased his experience in private business, where he built a $200 million personal fortune in the mobile telephone industry and other investments,” the Post wrote in November 2001. “Voters said they liked Warner’s business experience.”
The Post, however, did not run a story questioning the impacts of Warner’s investments on pay-phone sales or the employment prospects of employees who put up telephone wires, another example of creative destruction.

Read more: http://freebeacon.com/good-business-bad-politics/

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