The Decline of the Newspapers

Thomas C. Reeves:

Circulation for the nation’s daily newspapers has been declining steadily since 1990. In 2004 and 2005, daily circulation dropped 3.5% and the Sunday circulation declined by 4.6%. In the six months period ending in March, 2006, daily circulation fell 2.5% and the Sunday editions fell 3.1%. Readership declined in almost every demographic group and among people with all levels of education, even those with postgraduate degrees. One study found that baby boomers read newspapers a third less than their parents, and generation Xers read them a third less than the boomers.

Venturesome Consumption

Fascinating article in a recent Economist:

In a marvellously contrarian new paper*, Amar Bhidé, of Columbia University’s business school, argues that these supposed remedies, and the worries that lie behind them, are based on a misconception of how innovation works and of how it contributes to economic growth. Mr Bhidé finds plenty of nice things to say about many of the things that most trouble critics of the American economy: consumption as opposed to thrift; a plentiful supply of consumer credit; Wal-Mart; even the marketing arms of drug companies. He thinks that good managers may be at least as valuable as science and engineering graduates (though given where he works, perhaps he is talking his own book). But he has nothing nice to say about the prophets of technological doom.

* “Venturesome Consumption, Innovation and Globalisation”, presented in Venice at the CESifo and Centre on Capitalism and Society conference, July 21st-22nd.

Where You Vote Matters

Mahalanobis:

“Subtle environmental cues can influence decisions on issues of real consequence,” write Jonah Berger and Marc Meredith, two doctoral students at Stanford’s Graduate School of Business, and S. Christian Wheeler, a Stanford marketing professor, in a paper (summary) reported in July’s SER. The “environmental cues” are surprising indeed: according to the authors, the polling places used by voters may influence their choices. One study showed voters in Arizona in 2000 were more likely to support a measure to increase the state sales tax, with the proceeds going to public education, if they voted in a school.