Bias Rating: RIGHT
Factual Reporting: MOSTLY FACTUAL
Press Freedom Rank: MOSTLY FREE
Media Type: Organization/Foundation
Traffic/Popularity: Minimal Traffic
MBFC Credibility Rating: MEDIUM CREDIBILITY
Founded in 2013, The Library of Economics and Liberty (Econlib) is a website for the American right-wing libertarian think tank, Liberty Fund. Econlib is based in Indianapolis, Indiana, and has several categories such as “a blog for the discussion of economic ideas (EconLog), a collection of interviews and podcasts (EconTalk), resources for high school teachers of economics, and an Encyclopedia of Economics.” They also feature books, articles, an online encyclopedia, and more.
Funded by / Ownership
The Library of Economics and Liberty (Econlib) website is owned and published by the Liberty Fund, which is a 501(c)(3) non-profit organization funded through donations. Pierre Frist Goodrich founded the Liberty Fund in 1960. Goodrich left most of his considerable estate to the Liberty Fund. The Econlib website and Liberty Fund lack transparency with funding.
Analysis / Bias
The organization has been criticized recently as it is drifting away from its founder’s vision as the board has been a vocal advocate for Former President Trump. The website publishes articles such as “The Beef with Greed: Leo Tolstoy and Adam Smith.” Econlib also provides articles that favor the right and often the policies of President Trump, such as this “The Threats to Democracy, Part I.” The Library of Economics and Liberty (Econlib) generally advocates for a free-market economy with minimal regulations.
When reporting on climate change, the Library of Economics and Liberty (Econlib) publishes articles minimizing the effects of climate change “William Nordhaus versus the United Nations on Climate Change Economics.” In this article, the author states, “Nordhaus’s work shows that such an aggressive goal would make humanity much worse off than if we simply adapted to climate change with no government measures.” The author Robert P. Murphy is an economist for a Houston, Texas-based think-tank called the Institute for Energy Research (IER). According to DesMog, “The IER has received over $307,000 in funding from ExxonMobil and $237,000 From Koch Family Foundations. PRI has received over $600,000 from Koch Foundations and significant donations from Scaife Foundations.”
Finally, in another article, they do not deny climate change but again disagree with government solutions Climate Change: What is (Not) To Be Done. In general, Econlib promotes free-market capitalism and advocates for limited government.
Failed Fact Checks
- None in the Last 5 years
Overall, we rate The Library of Economics and Liberty (Econlib) Right Biased based on political positions and advocacy that favors the right. We also rate them Mostly Factual in reporting rather than High due to a lack of transparency with funding. (M. Huitsing (03/19/2022)
Last Updated on April 10, 2022 by Media Bias Fact Check