Economics

Michael Kinsley's Creative Destruction of Newspaper Bailouts

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Good column by a guy who always has interesting things to say about newspapers:

[L]et's say […] that technology is on the verge of removing some traditionally vital organs of the body politic. What should we do?

How about nothing? Capitalism is a "perennial gale of creative destruction" (Joseph Schumpeter). Industries come and go. A newspaper industry that was a ward of the state or of high-minded foundations would be sadly compromised. And for what?

You may love the morning ritual of the paper and coffee, as I do, but do you seriously think that this deserves a subsidy? Sorry, but people who have grown up around computers find reading the news on paper just as annoying as you find reading it on a screen. (All that ink on your hands and clothes.) If your concern is grander -- that if we don't save traditional newspapers we will lose information vital to democracy -- you are saying that people should get this information whether or not they want it. That's an unattractive argument: shoving information down people's throats in the name of democracy. […]

But will there be a Baghdad bureau? Will there be resources to expose a future Watergate? Will you be able to get your news straight and not in an ideological fog of blogs? Yes, why not -- if there are customers for these things. […]

If General Motors goes under, there will still be cars. And if the New York Times disappears, there will still be news.

Link via Andrew Sullivan. Reason on newspaper bailouts here.