GÖTTERDÄMMERUNG: A LETTER TO THE ECONOMIST (July 23, 2011)
The homage to Richard Wagner in your main leader will be appreciated by the cognoscenti, but Murdochdämmerung is hardly likely to spell the end of the media overlords as a breed, as you claim (“Last of the Moguls,” July 23, 2011). Whatever happens to Rupert Murdoch, his family, and their sprawling media empire will not deter others. Just as he was not deterred by the ill fortunes of the American media overlords four generations ago, when they ended up behind bars during the Prohibition, he will have eager followers. And their eagerness is bound to stun us over and over again. You are right when you say that the Internet is undermining the dominance of mass media, but that is so only for the time being. God only knows what the likes of Google, Yahoo!, Facebook, or Twitter will do in their own time. Media monopolies have a habit of changing their clothing, but they are forever in search of another takeover. As well as ever more power over the hoi polloi. Returning to Wagner, “Twilight of the Gods” is here to stay for quite a while. But they will keep changing their clothing, it goes without saying.