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Preface Part I. Serving Audiences: 1. Not toasters: the special nature of media products 2. Public gods and monopolistic competition 3. The problem of externalities 4. The market as a measure of preference 5. Where to? Policy responses Part II. Serving Citizens: 6. Different democracies and their media 7. Journalistic ideas 8. Fears and responsive policies 9. Constitutional implications Part III. An Illustration: International Trade: 10. Trade and economics 11: Trade, culture, and democracy Conclusion Postscript: the internet and digital technologies.