Newspaper Industry is a “market failure”

As we all know, newspapers have been struggling to stay alive in the era of the internet. Here is yet another Democrat who doesn’t understand the way a free market should work,  Representative Henry Waxman, calling the dying newspaper a “market failure.” Yup, thats right. The market has failed us again. Guess what comes next?

The loss of revenue has spurred a vicious cycle with thousands of journalists losing their jobs. While this has implications for the media it also has implications for democracy. We cannot risk the loss of an informed public and all that means because of this market failure.

Waxman even went as far to say it is not the job of Congress to “deny the evolution of media.” His proposed solutions are a new tax structure for publishers and granting newspapers non-profit status. Waxman finishes by saying, “Eventually, government is going to have to be responsible to help resolve these issues and our whole society depends very much on reaching some resolution of the problem.”

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