That involves understanding how journalism is financed, and how that financing is shaped by policy. Many of us think we know what happened — journalism is no match for the innovative Internet! Only charity can save it now. But that’s what FB and Google want you to believe. 2/
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Today, with my
@econliberties colleagues@matthewstoller and@ZephyrTeachout, I published a short paper that tells the story of the slow-motion collapse of journalism. We tell it through the choices policymakers made as FB and Google monopolized advertising markets. 3/Show this thread -
We lay out solutions that attempt to address the underlying source of so many of these two corporations’ harms: their rapacious, surveillance-based advertising businesses. And we try to show how autocrats in markets — Google and Facebook — are at odds with our democracy. 4/
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We hope folks read it, challenge it, and engage with us and others working on this fight. And we hope, during this immediate crisis, our leaders provide direct support to local news, as our friends at
@freepress have led on. 5/Show this thread -
But we have to make a choice: between business as usual for Facebook and Google or a vibrant, independent press to underpin our democracy. We choose the latter, and spell out how we think we can achieve it. https://static1.squarespace.com/static/5df44e0792ff6a63789b5c02/t/5e90c1f1f177386f95c33662/1586545139529/Working+Paper+Series+on+Corporate+Power_2.pdf …
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If Google and Facebook are to blame, how come independent local news sites like mine outsell Google and Facebook (and our print competitors) in our markets?
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It would help if major news orgs stared acting like news orgs -instead of the propaganda arms of narrow political interest .
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Once upon a time, media outlets didn't expect the news divisions to pay for themselves; that's what the other depts & ads were for. Consolidation & takeovers meant newsrooms were cut back for not being profitable. And here we are.
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As far as I am concern, there is zero democracy in this country, since a very long time ago. Democracy is just a buzz word they use when they find excuses to attack and bomb other countries.
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