American journalism is in trouble, and the problem is not just financial. My profession is in distress because for more than a decade it has been chasing the false idols of fame and fortune. While engaged in those pursuits, it forgot its readers and the need to produce a commercial product that appealed to its mass audience, which in turn drew advertisers and thus paid for it all. While most corporate owners were seeking increased earnings, higher stock prices, and bigger salaries, editors and reporters focused more on winning prizes or making television appearances.

Some long-term reporting projects have been undertaken, and multiple-part series published, simply because they might win prizes. Over the past ten years, The Washington Post has won nineteen Pulitzer Prizes. But over that same period, we lost more than 120,000 readers. Why? My answer, unpopular among my colleagues, is that while many of these longer efforts were worthwhile, they took up space and resources that could have been used to give readers a wider selection of stories about what was going on, and that may have directly affected their lives. Readers have limited time to spend on newspapers. The number has been twenty-five minutes, on average, for more than thirty years. In short, we have left behind our readers in our chase after glory.

Editors have paid more attention to what gains them prestige among their journalistic peers than on subjects more related to the everyday lives of readers. For example, education affects everyone, yet I cannot name an outstanding American journalist on this subject. Food is an important subject, yet regular newspaper coverage of agriculture and the products we eat is almost nonexistent unless cases of food poisoning turn up. Did journalists adequately warn of the dangers of subprime mortgages? I don’t think...

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