Free riding – financial services

Reading Gigaom by Matthew Ingram which also provides the new FCC report “The Information Needs of Communities: The Changing Media Landscape in a BroadBand Age.” ┬áJournalism is a positive externality b/c people receive and benefit without paying. People say that with the news is available with the sending of a link, or a text or on a website home page, (founding fathers subsidized political journalism with stamps for postage) and we don’t need to seek out information because it will find us.

The same is true with financial services. If society doesn’t need to seek out information because it finds us, then who ever is controlling the message in the marketplace, controls a significant share of the collective thought. If Wall Street is pumping information about doing business a certain way, then there is no counter narrative.

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