JLF Triangle Blog

Jarvis on markets

BuzzMachine‘s Jeff Jarvis responds to criticism from Ron Rosenbaum that he is not teary-eyed enough about all the journalists losing jobs at newspapers. Read it all, it’s interesting. But this is what caught my eye (emphasis added):

He complains about my trust in the market — “the same market that created this debacle and came close to destroying the economy.” I say at some level, if you don’t trust the market – the people, us – then you don’t value democracy, capitalism, education, art … or journalism (for why trust, empower, enable, ennoble, and inform the people if we all a bunch of idiots?). “He’s the Sarah Palin of gurus,” Rosenbaum says. “The crowd is always right.” Don’tcha know, it’s often more right than we give it credit for.

One Response to “Jarvis on markets”

  • Nov
    13
    2008

    Glad you teased that out. Although I didn’t always agree with him Jude Wanniski often pointed out that the collective opinion of the public often pointed the way to truth. This is way I am a little uncomfortable with Dan Henninger formulation which seems to posit that humans are suddenly either indifferent to the objective facts of the world or are unable to discern them.

    To my mind it is exactly like music. Yes, we are swamped by more crap than ever before, but it is still possible to find the valuable amongst the dreck — perhaps more easily than ever before.

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