The worst thing to happen to American capitalism, by some accounts, was quarterly financial reporting, because instead of focusing on the long-term health and stability of the company, executives went after the quick win, a share-price sugar rush that could be accomplished with cutting research and development spending or laying off broad swaths of the workforce.
Similarly, those who were refreshing their news sites every 10 minutes to see the latest in talks between the president and Sen. Joe Manchin, D-W.Va., over the Build Back Better bill were probably worse informed than those who just tune in once a month.
The 24-hour news cycle is the equivalent of always knowing the score of the game in the third inning. Interesting maybe, but ultimately useless. As newspapers have folded, people have fretted over the increasing number of “news deserts.”
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