Where is the knowledge we have lost in information?

The headline is from T.S. Elliott, an appropriate one to close out the old year. How does web literacy, most of it offered as free information, reshape 21st century knowledge and the media platforms that fuel knowledge? News in the media world has focused on layoffs, newspaper bankruptcies, big box bookstore closings, and on and on. On the last day of 2008, Conde Nast kills more titles (adieu Domino). It's cliche, yet undeniable that the availability of cheap, free information is killing off last century's media model. Last Sunday's NYTimes article about the ability to buy books from online resellers for less than the cost of paper was rattling. How can a publisher and author have a livlihood? Just this week, JWT's trend guru predicts experiential, multi-media platforms as a key trend in 2009 (she references books that suggest music playlists--an idea that has been around for years!) How does one make money--and enough of it-- in the new model of integrated, interactive, participitative media? Perhaps an intellectual property becomes a "free trial" entry to trade-up to a bigger expereience for more dollars (i.e., Radiohead's music experiment, AC/DC's WalMart music/merch deal). Someone has to pay the writers, journalists, photographers, musicians and pundits. Information, news and entertainment always comes with a price tag--but who foots the bill? In the Great Repression of 2008, the pay-to-play media questions become even more intriguing.