Economist: Some critics of the media have contended that negative news reports on the state of the economy can actually harm the economy because such reports damage people's confidence in it, and this lack of confidence in turn adversely affects people's willingness to spend money.
Opposing Support
Such reports [negative news reports on the state of the economy] damage people’s confidence in it [the economy].
This lack of confidence in turn adversely affects people’s willingness to spend money.
Opposing Point
Some critics of the media have contended that negative news reports on the state of the economy can actually harm the economy.
Evidence
Studies show that spending trends correlate very closely with people’s confidence in their own immediate economic situations.
Conclusion
Thus these media critics are mistaken.
Evaluate
The argument assumes that one’s confidence in one’s own economic situation is not affected by reports about the overall state of the economy.