[KKKKkkkk1]

There is no business-model problem. Mass hysteria has existed long before Western-style free press. In late 19th century Russia, the government would spread rumors that Jews drink the blood of Christian babies and instigate pogroms. In medieval Europe, people used to burn witches. In modern Egypt, people think 9/11 was a US-government conspiracy. All of these phenomena have taken place without a capitalist free press.

To me, these examples indicate that the profit motive in journalism is actually good. It creates an incentive for publishing the truth and a disincentive to spreading lies that does not exist in other models of journalism.

[brianjoseff]

Interesting point. So capitalist free press is actually a net positive here given the transparency it presumably enables (and promotes to the degree that consumers desire truthful/etc journalism)

I think part of what makes our modern situation different is that mass hysteria has a denser network on which to propagate (yes also means remedial measures also propagate faster) and is propelled via a more ruthlessly efficient propellant (expression of consumer preference in a frictionless, free-market, internet-enabled system)

But I'd argue that, generally, whenever feedback loops are tightened, systems tend to lose stability, increasing risk of very bad events.

So my point still stands, something should be done about this... I just don't know what. regulation feels kludgy, building a competing product/model that somehow encourages more pro-social outcomes, per my business model fixation in parent comment, feels nice--but likely is too naively optimistic.

So what else is there? Some old-time religion? "Don't lie and don't hate each other...". Also doesn't feel like a good route, for reasons too many to enumerate.

So what is there?

[freshhawk]

If journalism has to be market driven in a capitalist system then all there is is a culture that values education, intellectualism, distrusts all large institutions and values journalism itself.

Which, of course, is harmful to literally everyone in power and most of the people with the power to steer culture. Any system remotely like we have now is systemically opposed to good journalism.