Sunday, February 22, 2009

Goodbye to the Age of Newspapers (Hello to a New Era of Corruption)

Paul Starr writes:

We take newspapers for granted. They have been so integral a part of daily life in America, so central to politics and culture and business, and so powerful and profitable in their own right, that it is easy to forget what a remarkable historical invention they are. Public goods are notoriously under-produced in the marketplace, and news is a public good--and yet, since the mid-nineteenth century, newspapers have produced news in abundance at a cheap price to readers and without need of direct subsidy. More than any other medium, newspapers have been our eyes on the state, our check on private abuses, our civic alarm systems. It is true that they have often failed to perform those functions as well as they should have done. But whether they can continue to perform them at all is now in doubt.

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