TV news is ultimately much more an arm of the entertainment industry than it is of the news industry. Its star anchors get paid millions of dollars because they’re popular on TV, not because of their reporting skills; and while the occasional news magazine program will sometimes break news, newspapers and websites have always been the undisputed leaders on that front.
By Felix Salmon: “News Corp’s digital divergence” (via reuters)
The damage of prolonged unemployment goes deeper than dollars. Skills deteriorate, anxiety and depression set in, and sometimes an outlook changes forever. Megan McArdle argues that the true cost of unemployment is even worse than we thought.