Much is being made of the recent revelation via Paul Bedard that journalism school graduates don't read newspapers and magazines any more. But this from the article (via Legal Insurrection) may be even more interesting

The last sentence of Bedard's article is probably the most important. After noting that the average starting salary for a journalist is about $10,000 less than the average starting salary of college graduates in other fields, Bedard concludes:

Which may explain this statistic in the 75-page survey: Nearly 28 percent regretted their decision to go into journalism.

There have been far more wannabe journalists than there have been jobs for them for several decades now. It is a skill set with a large personality component rather than a body of knowledge to be mastered.  Thus it is not a job that requires an expensive degree, especially not an MA in journalism from one of a handfull of schools.   These degrees serve more as screening devices.  Who but a driven kid whose parents are willing to subsidize them enters a field where a MA is often required to get in the door, entry level jobs are almost impossible to find and the starting salaries are very, very low?  These conditions help enforce the liberal orthodoxy.  With so many people willing to take your place, you can't afford to rock the boat, especially not when you are still at the lower levels of the profession.