Monday, October 11, 2010

Market Succeeds, Print Media in Trouble

Does it bother anyone else that the Federal Trade Commission sees it as within its job description to promote newspapers?

I happen to like newspapers. Not enough to subscribe to one regularly. Sometimes I take the local newspaper (football season), sometimes the Wall Street Journal. Sometimes none.

Let us put the decline of the newspaper industry in perspective. It is a true market success. The print newspaper industry is not succeeding, but the market is. Internet news is beating out print newspapers in the market. That is what a market is all about: : the best and fittest surviving and the others adapting or failing.

Parents.  Teach this to your children: failure is a good thing. We all learn more by failure than we ever do by success.  (Schools that avoid winning and losing in competition are actively harming our children.)

The newspaper industry needs to learn to adapt to survive.

In today's twisted environment, I fear that the watchdog over the political class is more likely to go begging for handouts. I can only imagine the evil concessions the political (criminal) class will impose. If the print media go for government hand-out, could the print media ever be credible after that? (Not that is has all that much credibility to begin with.

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