"Even if markets properly provide for people’s desires or preferences for most products, Part I of this book shows that unique aspects of media products systematically cause markets to fail in respect to them. Part II shows that four prominent, but different, theories of democracy lead to different conceptions of good journalistic practice, good media policy, and proper constitutional principles. While implicitly favoring a theory of “complex democracy,” Part II makes it clear that the choice among democratic theories is crucial for understanding what should be meant by a free press. Part III explores one currently controversial issue – international free trade in media products. Contrary to the American negotiating position relating to media products, both economic and democratic theory justify deviations from free trade." (Publisher description)