Monday, September 12, 2016

[erewaocu] Publicly funded journalism

Journalism is a public good, so suffers from tragedy of commons: a private business has difficulty making a profit from it (unless it resorts to journalism as entertainment, which we see happening: politics as NASCAR).

The standard solution for inducing the optimal production of public goods is public funding, but publicly funded journalism tends to go terribly, e.g., Pravda.

Is there a solution?  Perhaps somehow the public or agents of the public enforcing accountability in accuracy and completeness of the journalism, maybe something adversarial.

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