Eleven prominent economists, including Nobel laureates Joseph Stiglitz and Daron Acemoğlu, have issued a stark warning that independent and public-interest journalism is on “the brink of collapse.” They urged governments around the world to take immediate action to ensure the survival of quality journalism.
The joint statement was released through the Forum on Information and Democracy, established by Reporters Without Borders (RSF) and the French government.
Risks: Job losses, declining revenues, AI pressure
The economists highlighted rising job losses in the media sector, plummeting revenues, and the disruptive impact of artificial intelligence. “Governments are betting on AI for future economic prosperity. Yet they are failing to invest adequately in independent and verifiable information — the real foundation of 21st-century economies,” the statement said.
With the rise of the internet, the advertising-based business model that sustained media outlets has collapsed. Platforms such as Google and Meta now control the vast majority of the digital advertising market, while AI systems like ChatGPT and Gemini have significantly reduced traffic to news websites.
“Information produced by public-interest media is being exploited by these corporations for private profit,” the economists warned.
Call to governments
The statement emphasized the need to reassess the social and economic value of reliable information. Governments, it said, must step in to subsidize independent media and enact protective laws.
The economists concluded with a stark warning: “Unless urgent steps are taken, the collapse of public-interest journalism appears inevitable. This will carry profound consequences for our economies, our societies, and our democracies.”
