They are the consensus. Making up stories to support the consensus is their job.
Of course they're reliably wrong. The stories are immoral by default and often objectively insane. But the Serious People either believe them, or put a lot of money and effort into making sure politicians and the media repeat them.
The public don't set policy and don't read The Economist, so they're handed their beliefs by other means.
Of course they're reliably wrong. The stories are immoral by default and often objectively insane. But the Serious People either believe them, or put a lot of money and effort into making sure politicians and the media repeat them.
The public don't set policy and don't read The Economist, so they're handed their beliefs by other means.