There is a growing literature about the multitude of journalism's problems, but most of it is concerned with the editorial side of the business, possibly because most people competent to write about journalism are not comfortable writing about finance.
This quote offers a nuanced reflection on the challenges facing journalism, particularly highlighting the gap in the discourse around financial aspects of the industry. It suggests that while there is an increasing body of work exploring the various issues that journalism faces, much of this conversation is centered on editorial concerns. This focus perhaps stems from the comfort and expertise of those who analyze and write about journalism, who may feel more at ease critiquing editorial content, ethics, or the role journalism plays in society rather than delving into the complex financial mechanisms that underlie the business.
This distinction is critical because the sustainability of journalism heavily depends not just on the integrity and quality of its editorial content but also on the robust financial strategies that support it. Many debates and analyses seem to overlook or underrepresent the financial side, which includes business models, funding, advertising revenues, and other economic factors that ultimately influence what and how journalism gets produced.
In essence, this quote invites a broader, more inclusive inquiry into journalism’s problems—one that bridges editorial and financial considerations. For journalism to thrive in a rapidly changing media landscape, it must confront both editorial integrity and financial viability simultaneously. By recognizing this duality, the industry may better navigate its internal challenges and external pressures. Russell Baker’s insight touches on a crucial blind spot, encouraging the discourse to expand beyond editorial critique to include the financial realities that shape journalism's future.