I wrote a book about the Fairness Doctrine and how it was responsible for one of the worst episodes of government censorship in US history.

So I am somewhat alarmed at the calls percolating on Twitter for a new, internet Fairness Doctrine. This is a thread about why that is.

Let's start with what most people think when they hear "Fairness Doctrine." They imagine a time at an indeterminate point in the past when mass media was reasonable, balanced, equitable, and fair. It was a veritable golden age of mass media and the Fairness Doctrine was to thank.
Back then, radio & tv stations couldn't just air their opinions, spreading unchecked misinformation. No, they had to let the other side of any given issue have a say, giving the good guys a chance to check the bad guys when they told bald lies.
However, the problem with this narrative is that it is almost entirely a myth. In actuality, the Fairness Doctrine was a tool wielded by political interests in order to suppress dissident speech & prevent activists (from both Left & Right) from exposing the lies of the powerful.
But telling that story requires going back before the first major test of the Fairness Doctrine in 1963, before the rules were created in 1949, all the way back to the first meaningful attempt at federal regulation of radio in 1927.
The key phrase in the Radio Act of 1927 was the idea that the federal government would have discretionary licensing power over the airwaves with an eye to promoting "the public interest, convenience, and necessity."
Does that sound vague to you? Good; it did to station owners back then as well! Whose convenience are we talking about? What's necessary and what's non-essential? Is there such a thing as a singular public interest?
All very good questions and all opportunities for rent-seeking. As it turned out, the more political connections and capital one had, the more public interest merit your license application effectively had.
The government regulatory body, then the Federal Radio Commission (FRC), was a revolving door with the industry, and the big radio networks like CBS used their influence to consolidate a previously more indie radio landscape.
If you weren't the radio equivalent of the all-American quarterback, your chance of getting a license went down precipitously.

More from Paul Matzko

This is a great question from @HeerJeet and it has very old roots. In my book, I discuss a similar period of anxiety in the 1960s about the possibility of Air Force officers being involved in a coup. Thread.


Given the size of the US military in WW2, afterwards there was a spike in concern that some of these demilitarized veterans would be amenable to radicalization and supportive of insurrection. These fears heightened after the coups in France/Algiers in 1958 and 1961.

This was the peak era of the Cold War, so anti-communist anxiety was layered over top. The Right feared that communist infiltrators in the government would subvert the Republic. The Left feared that anti-communist military officers would launch a preemptive, paranoid coup.

Note as well that the foundation for these fears was rooted in a novel concept that journalist Edward Hunter had recently coined, "brainwashing." The idea was that US POWs held by North Korea had been brainwashed into accepting communism & might act as a fifth column back home.

You can see that particular paranoia in cultural artifacts from the time like "The Manchurian Candidate," novel in 1959 and the hit 1962 movie starring Frank Sinatra and the incomparable Angela Lansbury. Those sneaky commies nearly infiltrated the Oval Office itself, oh no!!

More from Culture

OK. Chapter 7 of Book 4 of #WealthOfNations is tough going. It's long. It's serious. It's all about colonies.

We can take comfort, though, in knowing that the chapter #AdamSmith says is about colonies is, in fact, about colonies. (IV.vii) #WealthOfTweets #SmithTweets


Colonies were a vexed subject when #AdamSmith was writing, and they’re even more complicated now. So, before we even get to the tweeting, here’s a link to that thread on Smith and “savage nations.” (IV.vii) #WealthOfTweets


The reason for the ancient Greeks and Romans to settle colonies was straightforward: they didn’t have enough space for their growing populations. Their colonies were treated as “emancipated children”—connected but independent. (IV.vii.a.2) #WealthOfTweets #SmithTweets

(Both these things are in contrast to the European colonies, as we'll see.) (IV.vii.a.2) #WealthOfTweets #SmithTweets

Ancient Greeks and Romans needed more space because the land was owned by an increasingly small number of citizens and farming and nearly all trades and arts were performed by slaves. It was hard for a poor freeman to improve his life. (IV.vii.a.3) #WealthOfTweets #SmithTweets

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I'm going to do two history threads on Ethiopia, one on its ancient history, one on its modern story (1800 to today). 🇪🇹

I'll begin with the ancient history ... and it goes way back. Because modern humans - and before that, the ancestors of humans - almost certainly originated in Ethiopia. 🇪🇹 (sub-thread):


The first likely historical reference to Ethiopia is ancient Egyptian records of trade expeditions to the "Land of Punt" in search of gold, ebony, ivory, incense, and wild animals, starting in c 2500 BC 🇪🇹


Ethiopians themselves believe that the Queen of Sheba, who visited Israel's King Solomon in the Bible (c 950 BC), came from Ethiopia (not Yemen, as others believe). Here she is meeting Solomon in a stain-glassed window in Addis Ababa's Holy Trinity Church. 🇪🇹


References to the Queen of Sheba are everywhere in Ethiopia. The national airline's frequent flier miles are even called "ShebaMiles". 🇪🇹
12 TRADING SETUPS which experts are using.

These setups I found from the following 4 accounts:

1. @Pathik_Trader
2. @sourabhsiso19
3. @ITRADE191
4. @DillikiBiili

Share for the benefit of everyone.

Here are the setups from @Pathik_Trader Sir first.

1. Open Drive (Intraday Setup explained)


Bactesting results of Open Drive


2. Two Price Action setups to get good long side trade for intraday.

1. PDC Acts as Support
2. PDH Acts as


Example of PDC/PDH Setup given