We have argued that successful economic development is characterized by widespread coordination. Toward this end, the development of a free media is critical for shifting games of conflict to games of coordination. We can therefore put forth some general guidelines for the achievement of a free media toward the ends of successful economic development:
- Privatize all aspects of the media industry
- Open borders to foreign investment and media
- Consumer demand is critical
As economics and history teaches us, these guidelines give the best chance for media to serve as a coordination-enhancing mechanism in achieving sustainable economic development.
Read All About It! Understanding the Role of Media in Economic Development
by Christopher J. Coyne and Peter T. Leeson
http://www.peterleeson.com/Kyklos–Media.pdf