If Thomas Jefferson was right that a well-informed citizenry is the foundation of our democracy, then newspapers must be saved, write two financially savvy thinkers at Yale.
“Although the problems that the newspaper industry faces are well known, no one has offered a satisfactory solution. But there is an option that might not only save newspapers but also make them stronger: Turn them into nonprofit, endowed institutions — like colleges and universities. Endowments would enhance newspapers’ autonomy while shielding them from the economic forces that are now tearing them down.”
I am intrigued that big thinkers are stepping up to the plate, at long last, and by this idea put forward by David Swensen, author of “Pioneering Portfolio Management” and the
chief investment officer at Yale, and Michael Schmidt, a Yale financial