early information service via telephone

Unlike the telegraph and Morse Code, the telephone enabled communication in ordinary spoken language.  The telephone thus lowered transactions costs for conveying information quickly across space and created better opportunities for entrepreneurs to offer new information services.  Here’s an example of such innovation: Several years ago [about 1902] an editor in a small Illinois town … Continue reading early information service via telephone

Great Depression concentrated newspaper advertising expenditure

The Great Depression that began late in 1929 and extended through the early 1930s had a major effect on U.S. newspaper advertising expenditure. U.S national advertisers spent less on newspaper advertising in 1938 than in 1919. In 1938, spending of national advertisers in newspapers was only 57% of the corresponding advertising spending in 1929. Greater … Continue reading Great Depression concentrated newspaper advertising expenditure