LTP News Sharing:
“However badly the one-time pillars of the American news industry misunderstand economics, they cannot escape it. The law of supply and demand, like the gods of the copybook headings, will assert itself,” writes Free Enterprise Project (FEP) Director Scott Shepard in his latest commentary for Real Clear Markets.
The column details the mainstream media’s self-destruction, and how it continuously fails to comprehend why its product is not in demand.
“If there’s too much supply of things that aren’t much wanted, even the dimmest of suppliers will eventually start to supply something else, or will stop producing simply because demanders are offering too few resources to keep the supply operation in business,” Scott continues. “This is where the companies that once provided the republic’s news now find themselves.”
Scott also provides an explanation for why the nation has no interest in establishment news: “In the hard left’s conquest of the old media, it sacrificed standards (about reporting true things, about reporting at all instead of simply emoting, about maintaining any objective and neutral rules) that many of them had taken decades to establish – along with the reputations that adherence to such standards had created.”
From CNN to MSNBC and all of the other replicas, the column outlines examples of how corporate media has derided the public’s trust in them and why alternative sources are on the rise.
“Crushing non-progressive outlets will have no more effect on demand for what [Joe] Scarborough produces than would burning down a hair salon raise bread prices,” Scott writes.
To read the full piece, click here.
Author: Ethan Peck