by Hal Varian
Thank you, it is a great honor to accept this award on behalf of Google. We appreciate the recognition and the responsibility that accompanies it.
I am an economist by training, and only a part-time journalist, so I want to focus my remarks on the economics of the newspaper business during this period of transition.
Printed newspaper circulation has been declining for 50 years In the US, newspaper circulation reached its peak in 1972 and it has been all downhill ever since.
Experts agree that most of the decline during this period was due to competition from broadcast TV news and cable news, with the Internet contributing only in the last few years.