Competition in the media

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Vir Sanghvi, in the Hindustan Times, thinks competition works between newspapers as well as in other parts of the economy:

The general view among politicians is that the media are accountable to nobody. This is plain wrong. Individual journalists are constantly being held accountable by editors and most newspapers are far more concerned about accuracy in reporting than they were, say, ten years ago. The reason for this is simple enough: competition. If people stop believing you, then any media outlet is dead.

Surely true. Hat tip to the ever-provocative Indian Economy blog - and the commenters there don't agree with me or Vir Sanghvi.

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