For a relatively brief, glorious period in the middle of the 20th century, the majority of Americans held--or at least were kind--to the idea that independent, objective, professional journalism could exist and was valuable. During that period publishers could profitably compete attempting to sell that product.

Today most Americans, learned and unlearned, are significantly more cynical, habituated to reject the idea that independent, objective, professional journalism could exist. Regardless of the philosophical truth, what's certainly true as a practical matter is that it cannot exist even aspirationally unless we believe it can exist.