“American journalism has entered a phase of what the economist Joseph
Schumpeter called “creative destruction.” Gone are the fat profit
margins that once underwrote investigative teams and deep, experienced
teams of reporters to monitor and hold accountable both government and
private power. New and exciting forms of journalism are sprouting, but
new business models have yet to evolve to replace the old ones that are
crumbling.”

“American journalism has entered a phase of what the economist Joseph
Schumpeter called “creative destruction.” Gone are the fat profit
margins that once underwrote investigative teams and deep, experienced
teams of reporters to monitor and hold accountable both government and
private power. New and exciting forms of journalism are sprouting, but
new business models have yet to evolve to replace the old ones that are
crumbling.”

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