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Convergence has become an accepted form of journalism at media organisations around the world. These organisations are adopting a range of business models to find ways to pay for these innovations. The main drivers behind this radical change in media production are the disruptive forces that these two drivers behind this radical change in media production are consumers' changing media habits, cheaper digital technology, and the disruptive forces that hese two drivers generate. Technology also maes possible new forms of storytelling, which potentially allows jounrlaists the chance to do better jounrlists through convergence. This article focuses on the key issue of whether editorial managers and journalists are embracing convergence to save money, or to do better journalism. It begins by defining convergence (while accepting the wide variety of definitions) and describing two main models of implementation. It then considers the factors that hinder its introduction. Examples are provided of converged media around the world. This article ends with a warning about the dangers for democracy of misapplied convergence in an era of increasing concentration of ownership.

This article describes and measures how the Bank of Amsterdam supplied a successful fiat money in a world of specie by offering the unlimited repo of large coins at a near-zero rate. Our data from 1736 to 1791 finds that such liberal access led to volatile loan levels and that the Bank responded with sterilization by means of open market operations. In this way, the Bank held its money stock at a roughly constant level and helped stabilize its value. Profit was another part of the Bank's policy framework, and the pursuit of seigniorage eventually compromised stabilization.

Though checks' popularity is now waning in favor of electronic payments, checks were, for much of the twentieth century, the most widely used noncash payment method in the United States. How did such a relatively inefficient form of payment become so dominant? This article traces the historical evolution of the check, focusing on its relation to complementary and competing payment technologies. Originating in the eastern Mediterranean during the first millennium as a convenient form of payment between local merchants, checks became more versatile through the development of negotiability in sixteenth-century Europe. The suppression of banknotes in eighteenth-century England further promoted the use of checks. In the United States, nineteenth-century legislation discouraged other payment methods and eventually led to a nationwide check payment system. In the twentieth century, under the Federal Reserve's leadership, checks expanded rapidly and became the nation's default payment method. The authors discuss some persistent historical themes surrounding checks: checks' ease of use, which provides advantages over other payment methods but creates risk to businesses and banks; checks' sophistication, which evolved through centuries of legal precedent and operational experimentation; and checks' high costs relative to other forms of payment. Checks' traditional dominance of the U.S. payment system, the authors conclude, resulted from historical happenstances. These events gave the check relative advantages that are only now being overcome by electronic payment technologies.