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The reason we got all this great investigative reporting in the first place was because newspapers were making money.

Journalism needs to have its own source of power besides the government. You can't simultaneously depend on the government for funding and make it your mission to expose the government's shortfalls. Profit provides that power.

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Yes and no; the BBC is perceived as independent even while publicly funded; so are NPR and PBS, to a much lesser extent.

Their "independence" doesn't mean that they'll investigate anything/everything. For example, while all of them are willing to quibble about specific aspects of specific govt programs, they're unwilling to go after govt programs in the large (with the small exception of military projects).

True, but is it better for a paper to be afraid of its sponsors and popular opinion than to be afraid of the government? The need to appeal to the lowest common denominator to maximize profit is what's brought us such gems like USAToday and 99% of the garbage on television. On the other hand, some of the only watchable programming IMO is on PBS, and we know where that money comes from.

I don't have the answer; papers funded by the government would be a disaster like you said. But I don't think profit is the panacea to the world's problems.

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