Economics at the Economist – Staying true to the core values

What has the late Prof. Peter Kruse, the thought-provoking powerhouse – not only in his speeches at the Interactive Publishing Conference – to do with Economist CEO Chris Stibbs?

In his last interview Peter talks about how the economization of everything – indeed also of the cultural field – sits with most of us rather uneasy. His research points to a societal inner knowledge that this is not the right direction.

CEO Chris Stibbs accredits the economic success of the Economist to the organizational flexibility, the ability to adopt and develop quickly while staying true to the core values and the heritage of the Economist.

The reduction of newsroom staff across the industry over the last years definitely meant to part with some core values and some heritage. The readers know and feel that this is not the right way. That is why we see a reversion of trends as organizations like the Neue Zürcher Zeitung see economic success not as a result of cutting staff – but as a result of adding newsroom quality.

Peter asks if the value of cultural exponents such as the press should be measured in terms of the financial market only. Or if it will not lose what defines it and is the base for its survival when measured along those terms exclusively.