Journalists like to think of their work in moral or even sacred terms. With each new layoff or paper closing, they tell themselves that no business model could adequately compensate the holy work of enriching democratic society, speaking truth to power, and comforting the afflicted.
Actually, journalists deserve low pay.
Wages are compensation for value creation. And journalists simply aren't creating much value these days.
Until they come to grips with that issue, no amount of blogging, twittering, or micropayments is going to solve their failing business models.
Where does value come from?
Moral philosophers differentiate intrinsic and …