Analysis
Politics
European Commission Report Highlights Ukraine’s Gains in Governance, Reform and Resilience
7 November 2024
The free market provides bountiful rewards to the winners and metes out harsh punishment on the losers. But there are unsuccessful players in the free market that the “invisible hand” is starting to destroy. Without them, the free market and liberal democracy could potentially fall to ruin.
It is clear that one of the faltering free market players is the news media and together with it – journalism. Should the institutes of liberal democracy transgress their views and save news media and journalism, not leaving them on their own in the free market competition?
The free market is an engine of progress and it is an inseparable part of liberal democracy. Over several centuries of liberal democracy, the free market has created (and ended) various branches of industry, but this contributed to the world’s progress, especially the West’s. And now we have arrived at the industrial revolution 4.0, which has yet to gain momentum but promises to cardinally change our lives.
We see how the news media – one of the four pillars of liberal democracy – is vanishing right in front of our eyes, impacted by these changed free market conditions. If we do not grasp that we cannot leave news media to the will of the almighty free market, this pillar will fall.