Ten renowned economists, including Nobel laureate Joseph Stiglitz and Daron Acemoglu, have warned of a looming “collapse of public-interest journalism,” arguing that high-quality, fact-based reporting is a foundational resource for modern economies and democracies.
In a joint statement released by the Forum on Information and Democracy, they contend that reliable information underpins the 21st-century economy much as steam or coal powered industrial growth in earlier eras. This resource, they add, will become even more critical in an AI-centred future. Among the signatories are Philippe Aghion, Tim Besley, Diane Coyle and Francesca Bria.
A vital public good under pressure
Outlets that produce independent, evidence-based reporting “play a critical role” yet are “under threat worldwide,” the economists note. They cite mounting financial strain driven by intensifying, often unfair, competition from tech giants and digital platforms, alongside growing political interference - particularly from authoritarian governments, though not exclusively.
Policy fixes: invest, tax, and regulate
The group urges public authorities to invest in free and independent journalism, through direct or indirect subsidies, and to consider digital taxes on major platforms. They also call for regulatory frameworks that reshape information ecosystems to serve the public interest, including appropriate rules for large technology firms and artificial intelligence.
These measures, they argue, would help avert a trajectory that “appears to lead to the collapse of public-interest journalism - with significant consequences for our economy, society and democracies.” The costs, they add, are “relatively modest” and should be developed in consultation with civil society and the private sector.
Founded in 2019 through a partnership between France and Reporters Without Borders (RSF), the Forum on Information and Democracy now involves around 50 states.
