Wednesday, March 30, 2016

Did the National Security Act of 1947 destroy freedom of the press?

Henry R. Luce
Even in democracies, the business of government is run by a tiny group of people, and the decisions are taken by an even tinier group: let us call these few decision makers the ruling or power elite. In the United States, this tiny power elite at the top is composed disproportionately of members of the (very) wealthy classes, and their retainers. It may include people who do not have an official government position.

Now, since a person’s interests are largely determined by his or her position in the socio-economic structure, it follows that the power elite will tend to have interests quite at variance with those of the majority of the population. In fact, their ideology may be completely different—even opposite.

Is this a problem? Not if the majority has sufficient oversight over what the power elite is doing, for in this case government officials who violate the wishes of the majority can be democratically replaced with others who do respect what the people want.

What can produce the sufficient level of oversight? A free and competitive news market.  (more...)


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