Information is changing. The news industry was born in a time of information scarcity – and any understanding of the laws of supply and demand will tell you that that made information valuable.
But the past 30 years have seen that the erosion of that scarcity. Not only have the barriers to publishing, broadcast and distribution been lowered by desktop publishing, satellite and digital technologies, and the web – but a booming PR industry has grown up to provide these news organisations with ‘cheap’ news.
Information is changing. Increasingly, we are not seeking information out – instead, it finds us. The scarcity is not in information, but in our time to wade through it, make meaning of it, and act on it.