'Why journalists deserve low pay'

Beyond the provocative title of this essay from the Christian Science Monitor is a fascinating discussion of the economic value created -- or not created -- by journalists. Economist Robert G. Picard argues that technology is "de-skilling" journalism:

To create economic value, journalists and news organizations historically relied on the exclusivity of their access to information and sources, and their ability to provide immediacy in conveying information. The value of those elements has been stripped away by contemporary communication developments. Today, ordinary adults can observe and report news, gather expert knowledge, determine significance, add audio, photography, and video components, and publish this content far and wide (or at least to their social network) with ease. And much of this is done for no pay.

His conclusion: Journalists must create and distribute information that's not available elsewhere. "Every paper will have to be the undisputed leader in terms of their quality and quantity of local news."

Duh. But what Picard then suggests is that newspapers become regional or national leaders in reporting on topics unique to their area, then sell their coverage to other publications.

It's a very interesting read.