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Liberty and the News was published a century ago, the young Walter Lippmann's fifth book. The slim volume merits a fresh read in our post-truth moment. "In an exact, sense," Lippmann writes, "the present crisis of western democracy is a crisis in journalism." For Lippmann, liberty constitutes a method, not a series of prohibitions and permissions. The book's aim is to identify and examine potential reforms to boost the reliability of news—a project as relevant today as it is unfinished. Liberty and the News is republished in this mediastudies.press edition with a new introduction by Sue Curry Jansen.

Cover -- Title Page -- Copyright Page -- Contents -- Dedication -- FOREWORD -- PREFACE -- I. Introduction -- 1. Introduction -- The Main Branches of Economic Theory -- The Scope of International Economics -- The Role of Trade -- Plan of the Book -- II. The Classical Theory -- 2. Supply -- The Problem -- The Labor Theory of Value -- Absolute Advantage -- Comparative Advantage -- Opportunity Cost -- Limits of the Terms of Trade and Wage Rates -- Production-Possibilities Frontiers -- The World Production-Possibilities Frontier -- 3. Demand and International Equilibrium -- Indifference Curves -- International Equilibrium in Terms of Price-Consumption Curves -- Offer Curves -- Walrus's Law and International Equilibrium -- Limitations of the Classical Theory -- Appendix 3A: Many Commodities and Many Countries -- III. The Neoclassical Theory -- 4. Opportunity Cost -- Production Functions -- Linear Homogeneous Production Functions -- The Production Function of the Industry -- The Box Diagram -- The Production-Possibilities Frontier -- Some Difficulties with the Production-Possibilities Frontier -- Appendix 4A -- Appendix 4B: Points and Vectors -- 5. Community Indifference and Comparative Advantage -- A. Community Indifference -- Definition and Difficulties -- Justification of Social Indifference Curves in Some Special Cases -- B. General Equilibrium and Comparative Advantage -- General Equilibrium in a Closed Economy -- Equilibrium in a Simple Open Economy -- Neoclassical Demonstration of Comparative Advantage -- Appendix 5A: Scitovsky's Social Indifference Curves -- 6. International Equilibrium -- A. Meade's Geometric Technique -- Introduction -- The Need for a Trade Indifference Map -- Derivation of Trade Indifference Curves -- Properties of the Trade Indifference Map -- The Offer Curve -- International Equilibrium