4 ms·
I agree with most of this, but I suggest a 2nd look at the concept of free market. Free from what? Geographic locality? It's notable that Adam Smith's free mark
by netcan 5y ago
I agree with most of this, but I suggest a 2nd look at the concept of free market. Free from what? Geographic locality? It's notable that Adam Smith's free market seems to have been free also of monopolies and cartels.
In any case, whether an open internet would have resulted in newspapers' bankruptcy is speculative... even though I share your speculation. What actually happened was that FB & google achieved control over who sees what on the internet, who earns ad revenue and how much. That is how their business models actually died. It makes sense to sue, lobby, beg or otherwise try to get what you can from them. There is no market, just them.
Maybe it would have happened anyway in a free market, but it didn't happen that way. What happened was that big tech took over content delivery and online advertising.