WSJ – Best Kept Secret in America?

BLOG #22, SERIES #4
WEDNESDAYS WITH DR. JOE
WSJ – BEST KEPT SECRET IN AMERICA?
May 29, 2013

It certainly was a secret where I was concerned, for all those years I just considered the Wall Street Journal to be merely the best-known of all financial newspapers, and what tycoons and wannabe tycoons subscribed to. Was I ever wrong!

Perhaps up until recently I just wasn’t ready to find out, lulled as I was by the assumption that, after half a millennium years of cultural dominance by print and paper, nothing significant was likely to alter that state of affairs.

But then came the long societal earthquake which triggered a seemingly endless succession of toppling dominoes. Small-town newspapers were first; then large dailies such as Rocky Mountain News in Colorado. At first I managed to console myself that the demise of that beloved old paper might not be all bad if the surviving paper, The Denver Post, would thereby become twice as strong, twice as rich, twice as interesting – but that didn’t happen. Then I began to hear of the demise of other well-known newspapers. And the ones that managed to survive seemed to be but pale shadows of what they once were, kept alive only by advertising; and when that too began to go elsewhere, massive staff layoffs became the norm.

Magazines were next. Actually, this equally sad development was anything but new, for magazines had been in steady retreat ever since the Great Depression hit in the 1930’s. Indeed magazines had ruled supreme over all other media in the 1910’s,1920’s and 1930’s, magazine editors paying writers more than book publishers or movie studio producers. Even though my wife and I had subscribed to both Time and Newsweek over the years, we’d always preferred Newsweek. Then I began to hear rumors I first considered to be all but impossible: my favorite news magazine, after a century of vibrant life, might not make it. And, not long before its last print issue; same for another news magazine I’d often read or consulted: U.S. News and World Report.

And then came what I first assumed would be merely a fad: e-books. Not in my wildest dreams did I envision electronic books ever challenging the supremacy of printed books! But like Dickens’ immortal supplanter, Uriah Heep, in David Copperfield, e-books seemingly were determined to supplant traditional ink and paper.

Just when I’d almost given up on print, one day at an airport, I idly picked up a copy of WSJ. Huh? Couldn’t be! After all, USA Today had a monopoly on national newspaper readership. Or did it?

I kept buying WSJ, then subscribed to it. An eye-opening series of daily newspaper thefts (always the WSJ, never The Denver Post), jolted me. Was the WSJ so good that people would break the law to steal copies that didn’t belong to them? Evidently so.

Gradually I became aware that a phoenix was arising from the graveyards of print. A newspaper that was a print window to the world. In depth, well-written, fascinating articles, columns, reviews, etc., that kept me informed on events, not just local, not just national, but global. And not just financial, not just political, but something I as a historian of ideas had only seen in Smithsonian’s incredible monthly magazines – art, music, books, fashion, religion, history, anthropology, geology, biography, cinema, television, burning cultural issues, sports . . . on and on. And Friday and Saturday’s expanded issues were so fascinating it would sometimes take half a day to fully digest them. I no longer missed Newsweek.

Having said all this, in many respects the same conclusions could be drawn for newspapers such as the New York Times, that also deliver well-drawn windows to the world. Indeed, a case could be made for reading both newspapers in order to arrive at a balanced synthesis of opposing political viewpoints.

Nor am I maintaining that faithfully reading newspapers such as WSJ or NYT each day may alone result in Renaissance men or Renaissance women, for today we are bombarded by such incessant streams of knowledge and information (mostly electronically) that the big problem may have to do with the distillation of it: making sense of it all.

We ought to be concerned about the demise of journalism, evidenced by the killing off of elementary and secondary newspapers, for the result will be a further diminution of adult journalistic minds. For make no mistake about it: electronic sound-bytes, thirty-second attack ads, electronic infomercials, and half-hour news broadcasts that include no more news substance than would fill one-half-page of newspapers such as the WSJ or NYT, are no substitute for thoughtful in-depth reading; for simplistic pre-digested information, not offset by broad in-depth reading, inevitably will result in adults crippled by myopic views of life and current issues.

Which brings me back to the reason I walk out each morning to the mailbox: to pick up The Denver Post (that fills me in on local/regional news) and the Wall Street Journal (that broadens my horizon so that I can see the broad global picture – the Zeitgeist).

What a pity that so few Americans today realize what they are missing by their disregard of newspapers, magazines and books.

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