Economic articles aren’t just simple information—they’re crucial tools for making decisions. But are they truly helpful? This article explores how to properly read and utilize economic news, and how to develop your economic judgment.

How to Read Economic Articles

Hearing that a company’s performance is poor shouldn’t lead you to hastily conclude, ‘This company is going to go under soon!’ Corporate performance naturally fluctuates between good and bad. It’s not too late to make a judgment after understanding which phase of this cycle the company is currently in. Economic articles are precisely what help with this. By reading economic articles, we can predict what possibilities the future may hold and what challenges we might face. If we can predict the future, we can respond to change. When watching economic news or reading economic articles, precise analysis and sophisticated interpretation are necessary, but ‘my judgment’ and ‘my values’ are even more important.
Of course, that judgment might be wrong. Sometimes, interpretations may differ 180 degrees from reality. Yet, we must still read economic articles. Through the process of analyzing and judging them, we cultivate the strength to act according to our own standards. This means we no longer get tossed about by others’ opinions.
It is theoretically correct that accurately analyzing current events in light of the past is necessary to predict the future properly. However, this doesn’t mean we need to get bogged down in analysis. The economy doesn’t always move strictly according to theory. Thus, reading economic articles is akin to ‘choosing a road that won’t be congested during holidays’. Even if you meticulously analyze past holiday traffic patterns, no one can predict which roads people will take this holiday. Despite reviewing various information to select a seemingly uncongested route, the final decision ultimately rests on ‘my judgment’. This won’t change much even if big data becomes widespread and all information in the world is shared. You can’t force everyone’s judgment, can you? The economy is exactly the same. Unless the government controls everything, no one can know what choices people will make. Therefore, the best way to build economic knowledge is to read economic articles, establish your own criteria, make judgments based on them, and continually refine those criteria based on the results of your judgments.

The economy doesn’t always move according to theory

Analyzing and explaining the economy may require theoretical background knowledge. But the real world is different. Look around you—there are many people who are wealthy or have a knack for business without knowing economic theory precisely. Even without specialized knowledge, they steadily increase their wealth. Think about your acquaintances. You’ll likely find it easy to spot ‘friends who didn’t study much’ living better than those who excelled academically and attended prestigious universities. There are also people who consistently succeed in investing despite making economic analyses that seem completely at odds with theory.
The reason this is possible is very simple: the economy doesn’t always follow theory. When a situation arises, people often react differently rather than uniformly. Even when news about a specific economic situation emerges, people analyze it, and sufficient related information accumulates, the decision-makers differ from situation to situation. Therefore, making your own judgments is crucial. Even if your judgment doesn’t align with the actual outcome. Since every individual is different, the results of their judgments will inevitably vary. If ‘my judgment’ was wrong, you can acknowledge it and adjust.
It’s often said that alcohol and tobacco are bad for health, while exercise is good. Yet some people enjoy alcohol or tobacco for years, barely exercise, and still live long lives. Conversely, others abstain completely from alcohol and tobacco, exercise diligently, yet develop serious illnesses and die young. Life may involve probabilities, but there are no definitive answers. You must find the answer that suits you. Those who find a satisfying answer have lived a happy life. Unfortunately, we often don’t know ourselves well. So we make assumptions like ‘this will happen in this situation’ and present general cases. This kind of judgment is not ‘my judgment’.
To those new to society and the economy, I urge you to read economic articles, stay informed about current conditions, and save money. Newcomers to society haven’t yet formed their own framework. This means they still have the opportunity to build a solid one. If you establish the right framework during this period, you might not strike it rich, but you can at least avoid disaster. Invest your time now to build your own framework.

Does reading economic articles automatically make money accumulate?

Let’s state the obvious. Even if you possess 100% accurate economic judgment, you cannot accumulate money without investing it. It’s like having the ability to pick all six winning lottery numbers but never buying a ticket – you can’t win the jackpot. You shouldn’t expect miracles without taking these obvious steps. You have to buy the lottery ticket to even have a chance of winning, right? The ‘luck’ of being born to wealthy parents, allowing you to live without money worries even without ability, is granted to only a tiny minority. You, reading this book now, are probably not a chaebol heir. So you must start practicing with very small things. Only then will you have a chance to accumulate something. Reading economic articles is one such small practice, strengthening your ‘judgment’. But judgment alone won’t build wealth. Even a mere 10,000 won must be ‘invested’ based on that judgment for money to accumulate. If investing feels daunting, at the very least, practice ‘saving’.
While there are many differences between those with extensive social experience and newcomers to society, one striking example is this: Those with extensive experience clearly demand ‘what they need’ according to their own situation and circumstances. They focus on what they want. That’s why, as they age, they vote more diligently, accept even fake news if it benefits them, and widely spread stories favorable to themselves. They are people of action, and rights are prioritized for those who act.
In contrast, those new to society may be capable of clear and correct judgment, but they are relatively insensitive to ‘asserting their rights’. The more thoughtful and deliberative a person is, the more they tend to view pursuing their own interests as shameful (?). Consequently, newcomers to society criticize all government policies. If they focused on their own interests, they might criticize while still securing what they need, but they fail to do so. When reading economic articles, criticize what deserves criticism, but actively speak up on issues affecting your own interests. That’s how you help your own survival. Economic gains ultimately go to the group with the loudest voice. This isn’t about becoming a disruptive troublemaker. It’s about speaking up more for your own benefit.

Are economic journalists truly neutral?

There’s one more thing to keep in mind when reading economic articles: ‘position.’ Economic policies cannot satisfy everyone. They benefit some and harm others. So, from what position do journalists who claim to write ‘straight talk’ compose their articles? Some might answer, ‘They write neutrally.’ It’s not a wrong answer. But few words are as ambiguous as ‘neutrality’. Where exactly does neutrality begin and end? Who sets that standard? Just as a seesaw has only one exact center of gravity regardless of length, true neutrality is singular. Everything else leans slightly to one side. Therefore, it is accurate to view economic journalists as leaning toward one side or the other. So, which of the three main economic actors—government, corporations, or households—are economic journalists most likely to focus on? Common sense can help outline the answer.
First, the broadcasters, newspapers, and news agencies that produce the articles are all corporations. Therefore, regardless of individual journalists’ personal stances, the ‘tone’ or direction of the articles is set to favor the respective corporation. In other words, journalists employed by corporations are highly likely to analyze economic issues in a way that benefits their employer. Indeed, it’s rare to find a journalist who actively criticizes the company they work for.
Second, corporations exist within a capitalist world. Therefore, unless they are social enterprises, most corporations will adopt a stance that maximizes their financial gains. So, where do newspapers and broadcasters generate their revenue? Examining this in detail would be too complex, so let’s narrow it down to two possibilities: households or corporations? For newspapers, the number of paid subscribers has steadily declined, and corporate advertising revenue has long surpassed subscription revenue. Broadcasters also derive almost no revenue from households. They do sell Video On Demand (VOD) products, but the revenue from these is still less than the advertising fees corporations pay broadcasters. So, from the perspective of newspapers or broadcasters, which is more important: corporations or households? Obviously, corporations. Given this situation, it’s inevitable that many economic articles focus heavily on ‘corporate profits’. These articles become tools to help increase corporate profits or prevent them from decreasing.
Third, what about the relationship with the government? Administrations change every five years. One administration might focus on ‘economic justice,’ while another prioritizes ‘economic growth.’ We shouldn’t ask which is right, as this isn’t about debating political issues. Instead, consider which government aligns with the corporate stance of ‘profit maximization.’ Naturally, companies will view growth-focused governments more positively, and broadcasters and newspapers will likely feel the same.
There you have it. The center of gravity in economic reporting is highly likely to lean toward the corporate perspective. This is one reason why, when reading economic articles, you should interpret and act based on your own judgment. Even if you’re not affiliated with a company, reading along with the article’s tone makes it easy to follow corporate logic. If you are a business owner or shareholder (since shareholders are also owners of the company, they can stand on the corporate side), it’s fine to accept those arguments as they are. However, if a young professional develops the habit of accepting the article’s logic from the start, they are likely to lose their direction and wander later on.
Even journalists sometimes find themselves in such awkward situations. For instance, some reporters covered how raising the minimum wage and implementing the 52-hour workweek made business operations difficult and worsened the economy. Yet, through their union newsletters, these same journalists strongly advocate that employers (companies) must comply with wage increases and the 52-hour workweek. Few of these journalists express concern that such demands might bankrupt companies. This stance directly contradicts the content of their own articles.
We shouldn’t dismiss economic reporting as “worthless” simply because it leans toward a particular position. It’s inevitable that a journalist’s biases will influence their articles. This isn’t because journalists are bad people; it’s because everyone has biases. What’s important is cultivating the ability to discern truth after appropriately filtering out those biases. If you dismiss articles outright because you don’t trust them, you miss out on the ‘facts’ or ‘data’ they contain. While you can sometimes find some facts and data in communities, these too are likely biased in a specific direction. Currently, economic articles are the only affordable window to obtain the basis for economic judgment—facts, data, and trends. Online articles are practically free. Therefore, you should read economic articles.

Building a ‘Bridge’ to Get Familiar with Economics

Hearing hundreds of times that you should care about things unrelated to you won’t resonate. Consider a simple example: English. Even if you study English from a very young age, people who become truly proficient are rare. But what if, when you were young, someone who only spoke English lived next door, and whether you liked it or not, you had to play with them? You would likely have played while using English naturally, without the compulsion of ‘I have to study English!’
Similarly, to develop an interest in economics, experiencing it firsthand is far better than merely understanding it intellectually. To experience economics, you need to create a ‘connection’ with it. Sometimes you create this connection voluntarily through ‘investment,’ other times you’re forced to create it because you need to take out a ‘loan.’ Naturally, the recommended method is the former. If you want to develop an interest in stock investing, start by buying just $100 worth of stock. Whether you bought a few shares or many, people who have ever bought stocks approach the stock market completely differently from those who haven’t. News articles about companies whose stocks you own catch your eye, no matter how trivial, and if you don’t see any noticeable articles, you’ll start looking for them.
You can start with funds the same way as stocks. Pick just one product and subscribe with the minimum amount. That alone creates a connection. What about real estate, which requires relatively more capital? These days, you can check real estate prices online. Pick one listing and imagine you bought it. It’s a hypothetical purchase, but it lets you indirectly experience whether your investment judgment was correct. After this indirect experience, articles about real estate policy won’t feel like they’re from another world anymore.
Creating these connections is the only way to become familiar with economics. In Korea, with its advanced IT infrastructure, you can enjoy the economy like a game in various ways: through simulated stock investing, searching for apartment pre-sale information, or checking real estate prices and actual transaction data. If economics feels unfamiliar, it’s simply because you haven’t sought out ways to experience it and practice making these connections.

Embark on the journey to the world of practical righteousness

Telling new graduates to watch economic news and read articles is like parents telling a child engrossed in smartphone games, “Stop playing and do your homework!” Just as children can’t put down their smartphones, new graduates who merely watch their salaries slip away think, ‘This isn’t right,’ yet fail to actually change it. To overcome this, one must know what they truly enjoy and cultivate beneficial habits.
The disconnect between understanding something intellectually and acting upon it isn’t unique to new graduates. It’s a struggle faced not only by those with more age and experience, but even by great historical figures. Therefore, there’s no need to emphasize what new graduates can’t do and make them feel guilty. What matters is putting even one thing into practice after understanding the knowledge. After all, “knowing” and “doing” can never be 100% aligned. The foolish act of setting impossible goals and constantly berating oneself must stop immediately.
Start with what you can do, and begin with what you can see. The very moment you make that first attempt is the starting point where realistic righteousness is realized. Then gradually increase the number of things you do. Let’s move forward, even one step at a time. It may seem insignificant now, but when you look back on yourself later, you will find you have changed tremendously.