Do we bail out every business that's having trouble? Do we stop when we run out of money?
That's my reaction to a request by some CT lawmakers for a local newspaper bailout.
Seven legislators from the area served by The Bristol Press and The Herald in New Britain today wrote to the state Department of Economic and Community Development to ask for its help in preventing the closure of the newspapers.There actually are newspapers that are making money these days. McClatchy just reported a 3rd quarter profit. But instead of saying to these local businesses: "Get used to lower margins, innovate, adapt," the reponse is to scream for government money.
Why is handing over taxpayer money to these businesses is a good idea? Its a rotten time to publish a newspaper. The New York Times just had its bonds downgraded to junk status by Moody's. Ad revenue is down. Readership is down.
People increasingly don't get their news from newspapers, and some of them don't get it at all. An ignorant populace is definitely a bad thing, but handing out money to newspapers is not the way to fix the problem.
Historian Rick Shenckman proposes in his book "Just How Stupid Are We?" that the government subsidize newspaper subscriptions, revealing himself to be spectacularly uninformed about economics and human motivation.
What makes you think people who aren't reading the news now, would read it if it was free?
You cannot force people to be informed.
You cannot force them to be moral.
And you sure as hell can't force them to be smart.