Media represent an essential service like education and infrastructure. As such, media need to be protected from the corrupting influence of private interest, which has finally grown so massive as to exert a crushing grip on journalistic independence.
Friedland, who blogs on business ethics when he's not teaching at the University of Colorado, cites the BBC as an example of publicly-funded journalism that doesn't compromise. Closer to home, he notes that respected public TV and radio networks PBS and NPR receive federal money via the Corporation for Public Broadcasting.
Would an infusion of no-strings-attached government funding prompt a golden age of investigative journalism? I don't know. But if such a day came to pass, it certainly need not be the end of independent journalism as we know it. A good case could be made that corporate advertisers represent more of a threat to probing journalism than a bit of government money might. The Times and the Post and the WSJ and some others can afford to ignore advertisers, and they have the resources. (WSJ caveat: so far.) But when was the last time you saw a blistering investigative campaign against, say, sales tactics of car dealers or the environmental toll of production homebuilders is a small or medium size daily?
I venture to say that in at least one 100 percent government-funded newsroom in Washington, that of the Voice of America, there is considerably less interference than you might think. True, VOA doesn't do serious investigative work; there's no money for that, nor is it seen as part of the mission. But whether it's reporting on the resignation of President Nixon, the chaotic exodus from Saigon, the incompetence of the (non-) response to Katrina, or the ongoing debacle in Iraq, VOA journalists have generally provided straight reports on news that might be perceived as embarrassing despite — or because — they were and are paid by the people of the United States to do so.