It is essential that all countries should have well financed public service broadcasting. There are three core reasons for this. First, broadcasting as a medium suffers from market failure. Second, even if markets were to work perfectly in broadcasting, a democratic culture and equal rights require more than the market will deliver. These two arguments justify an activist public policy. The third part of the argument is that public service broadcasting is the right form for public policy to take.
My argument is a universal one argued from the point of view of economics. I believe that it holds true for all human societies, whether rich or under-developed. And I think it is important to ground the case in economic terms rather than cultural ones, because the strongest aspect of the case against public broadcasting is also an economic one, based on the proposition that the market always knows best.
Old monopoly, new monopoly
