Bailing out the gate-keepers

Over the past decade, circulation of the major national newspapers has steadily declined. This is due in large part to various, typically free technologies comprising the Internet (newsgroups, RSS feeds, web-only content, email newsletters, forums). Yet while disruptive technologies such as the automobile replaced the horse buggy, the Columbia Journalism Review prescribes an Uncle Sam solution to prevent further erosion. As Declan McCullagh points out, the CJR would like “everything from ownership tax incentives and R&D subsidies for the development of electronic paper—to a straightforward redistribution of wealth from taxpayers to newspaper owners and employees.” For the economic interventionist, is there any industry or business that should be allowed to fail? Furthermore, why should a taxpayer be burdened with financing business models and entrepreneurial schemes? Perhaps the most ironic aspect to this issue is that it is receiving widespread attention solely because the original story and follow-up commentary are easily accessible via the Internet. More on protectionism: Protectionism and the Destruction of Prosperity The Fallacies of Shrimp Protectionism George Mason: Protectionism at its Worst Protectionism Didn’t Help Copper Etatism, Protectionism, and the Demand for Lebensraum Asian Tiger or Asian Kitten?