The Free Market and Journalism
Posted in Money Matters, wordpress, internet, blog, News Media, disclosure, ethics, Opinion, Business on March 1st, 2010 by Stanford Matthews
The mainstream media has fallen on hard times. You may recall it being the subject of another list of targets to ‘bailout’ as Washington politicians continue to spend money we don’t have. But it is understandable they would not want the only collective voice supporting their nonsense to disappear. How else would they be able to quote writers as their only argument in favor of that which is largely opposed?
This post is inspired by a random survey of articles in the first week of this year and has been hanging around in a bookmark file for some time. It had come to the decision point of write about it or delete it. And with a post here on the idea of using sources with no names entitled ‘Under Condition of Anonymity’ writing about it seems fitting.
The article from the LAT by James Rainey, ‘Freelance writing’s unfortunate new model’, did its job of drawing a reader’s attention. From that point it is anyone’s guess if that condition remains. His lament that tough times for the mainstream media translate into tough times for writers, freelance or otherwise, seems obvious. Talk about a case for trickle down economics. If the business supporting incomes for individuals encounters some degree of failure how are they to continue as before? If the business loses money so will those depending on it for an income. This ain’t rocket science.
After noting less than impressive opportunities for freelancers Rainey expresses the real reason this article stayed in the bookmark file this long.
Why? Where is it written that a skill you may have should provide a living wage? It is not necessarily true that if you build it they will come. And it follows that they may not be willing to pay for it. The problem may be the result of the audience or market realizing the product or service is not what it once was and are no longer as interested in paying for the privilege of using it.
Rainey suggests compensation for writing may have hit bottom. And he adds that little attention has been given to it ‘outside the trade.’ Is he aware that there has been a recession as well as troubling times for most economies around the world? His timeframe is a fair match for similar problems faced by just about everyone else. The economy stinks and money’s tight.
The last word for Rainey’s article (from here) suggests he may have it backwards. The quality and quantity of what passes for journalism in the mainstream media and elsewhere may be the real reason for hard times in the writing trade. An inability to deal effectively with a changing market and allowing public criticism of bias to be ignored may be the real cause.
As for what we will be missing if the trend he describes continues Mr Rainey might want to consider that ship has already sailed. Had journalism remained in the media hard times for the industry may have been avoided.
Stanford Matthews
MoreWhat.com


International criticism and commentary aside there have been other suggested culprits throughout the long history of actions leading to the economic problems Americans now face. Senator Chris ‘Countrywide’ Dodd as well as sputtering Congressman Barney Frank are but two politicians connected to the banking industry. There are many more who helped themselves to the profits available in the mortgage industry during the run up to disaster and one such person is none other than Rahm Emanuel, President Obama’s Chief of Staff. The President’s choice for Secretary of the Treasury, Timothy Geithner, also has dirt on his hands from his tenure at the Federal Reserve Bank of New York.
This story and the items mentioned above point to the central theme of this post. Political rhetoric and ‘after the fact’ reactions are all too common. It is the evidence that proves what most of us already know about government and those who run it. They govern poorly allowing events to occur that could have been prevented. Where were all these people before the problems referenced here took place? Certainly most of them were in office before the so-called global financial crisis emerged.


In a recent post (rant) published on this blog the target was telecom and electronics in general and specifically wireless communications e.g., cell phones and the lack of attention paid to voice service. Just as vendors ignore recent revelations of hacking encryption techniques that expose vulnerabilities customer service has been largely ignored with Google’s launch of Nexus One as the excerpt and link below indicate. But also in the previous rant on this blog the notion that fools rush in explains why the lack of due diligence by those purchasing the latest and greatest allows vendors to be so arrogant.
The review from Wired is on point as well. And it is a reminder about this blog’s continuous and primary complaint about wireless voice services. They take a back seat to all other features offered by cell phone vendors. We all get geeky from time to time but the fact remains a cell phone is exactly that. A cell phone first where voice communication should be the first priority. And ti should not cost hundreds of dollars to get one.

