ABSTRACT
A central argument of defenders of the free market is that freedom in the economic market is a necessary condition for democracy to flourish. The role of journalism and the press is central to this argument: they supply the link between the market and democracy. 1 A free market brings with it a free press that supplies the diversity of opinion and access to information that a citizenry requires in order to act in a democratic, responsible manner. The free market, journalism and democracy form an interdependent trinity of institutions in an open society. This liberal economic position has been prominent in recent debates concerning the First Amendment in the United States and the recent deregulation of the media in Europe. 2 In this paper I will attempt to prise these institutions apart. I will argue that, while journalism as a practice does have a necessary role in democratic societies, the market undermines the relation between journalism and democracy. There is a tension between the internal goals of journalism and the market contexts in which it operates; and the market inhibits the dissemination of information and diverse opinions required of a democratic society. In defending this position I will, for the most part, limit my discussion to journalism in a free market per se. Issues of monopoly in the press, while they are relevant to the points I raise, will not be discussed here. 3
