Words worker. Digital thinker. Feminist. Mother.

Cashing in on news as social currency

Jack Shafer weighs in on Slate on the terminal state of newspapers by arguing that newspapers are dying because they are no longer the best providers of social currency.
Social currency, he explains, is the phrase used to “describe the information we acquire and then trade—or give away—to start, maintain, and nurture relationships with our fellow humans”.
Newspapers have traditionally been a source of social currency, an excellent source of “socially lubricating conversation”.
But, as Shafer points out, newspapers are being upstaged and usurped by other media in the social currency game. “What is Facebook but the Federal Reserve Bank of social currency?”
It’s an interesting take and another reminder that “the decline of newspapers has nothing to do with journalism and everything to do with the changing world”.

PS: And while you’re there, don’t miss Shafer’s response to a rant against bloggers. This spat happened way back in 2005… Has anything changed since then?

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