Newspapers: A Lesson in Economics

Last summer, when Detroit's pressmen walked off the city's two papers, the Free Press and the News, one of the more interested observers was a 23-year-old graduate student in economics at Detroit's Wayne State University. Michael Gordon Dworkin's journalistic experience was meager; in years past he had logged a little time on Wayne State's student paper, the Daily Collegian. But he did not lack for nerve. If the shutdown lasted long enough, he decided, an interim daily might make its publisher some real money. On the strength of his decision. Student Dworkin went into the newspaper business.

Paying Off. Instead...

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