Media Regulation: A Critique of Finkelstein and Tiffen

With Sinclair Davidson

Abstract: In this paper we provide a critique of the Finkelstein and Tiffen argument for increased regulation of the press. By failing to incorporate recent advances in the economics of regulation into their argument they fail to provide a coherent and rigorous foundation for their position. This leads them to overlook more obvious policy solutions to the problems they perceive in regulating the press. The Finkelstein and Tiffen paper also neglects to incorporate the political context underlying press regulation in general, and the Finkelstein Inquiry in particular. By underplaying the importance of both the economics of regulation and the politics of press regulation the Finkelstein and Tiffen paper misdiagnoses the problem under consideration and leads to inappropriate policy advice.

Working paper available at SSRN.