In explaining How Not to Fix the New York Times, Felix Salmon identifies many assets that help make the Times so invaluable -- and which may be hard to replicate in a more fragmented media world.
The challenge for a New Media that seeks to replace newspapers rather than supplement them will be to either replace those assets, which include not only sources and clout but long-digging reporters and ever-vigilant editors -- or somehow find substitutes that get the same jobs done.
Hat tip: Daily Dish
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A while ago I wrote about Steve Milloys Free Enterprise Action Fund and its dismal performance:
It's economics time again.
I hate economics. I find it hopelessly dull. But apparently my style of explaining
it is really helpful to people, so they keep sending me questions; and as usual, I do my best to try to answer them. Even if I don't particularly enjoy it.
Is inflation really so bad? The great scourge of the American economy - and the economic phenomenon that gives Greenspan and Bernanke nightmares - turns out to have some pretty progressive side-effects.
And, since I've been cwuel to the septics, I suppose I ought to have a go at the greenies, for balance: