What Has Become of Business Journalism?

The New Yorker published my essay about the financial crisis and business journalism; I review a new book that talks about these issues.

“The Watchdog That Didn’t Bark” doesn’t attempt to enshrine old-media institutions. Instead, it defines accountability reporting and what’s needed to foster it, no matter the medium: resources, to fund extensive research; expert knowledge, to decipher sub-cultures; and resilient editors willing to withstand intimidation from the government and from powerful companies. Starkman’s strength is his insistence that we judge journalism from within its own tradition rather than jamming it through the logic of market efficiency or “disruptive” information technology and accepting what comes out.

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