No, Steve, you really have overlooked and oversimplified things.
First, please don’t dismiss Adam Smith with a throwaway remark. You really do need to go back to Adam Smith’s Division of Labor and understand its premise — The purpose of division of labor is “to make a smaller quantity of labour produce a greater quantity of work.”
Second, journalism needs to be disaggregated to consider the differences between local, regional, and national/international incarnations.
Third, the “Daily Me” isn’t good enough — journalism can be functionally viewed as a square divided into four parts: Two parts contain “What I need” and “What I want”, while the other two contain the serendipidous “What the editor thinks I need” and “What the editor thinks I want”.
