Michael C. Jensen Quote

A major social problem we face today is how to control the political process that is eroding the free enterprise market system. Although I am pessimistic that we will in fact ever resolve this problem completely, we will surely never solve it unless we develop a viable positive theory of the political process. Such a political theory will not be complete until we also have developed a theory that explains why we get the results we do out of the mass media.

Michael C. Jensen, 'Toward a Theory of the Press,' in Economics and Social Institutions, Karl Brunner, Editor (Martinus Nijhoff Publishing Company, 1979).