[H]ere and now, as always and everywhere, invention is the mother of necessity. - Thorstein Veblen

The current periodical press... is a vehicle for advertisements. ...Exceptions ...are official and minor propagandist periodicals, and, in an uncertain measure, scientific journals. ...The first duty of an editor is to gauge the sentiments of his readers, and the tell them what they like to believe. ...His second duty is to see that nothing is said which may discountenance ...his advertisers. ...The net result is that both the news columns and the editorial columns are commonly meretricious in a high degree.

It is much more difficult to recede from a scale of expenditure once adopted than it is to extend the accustomed scale in response to an accession of wealth.

The periodical press is not only a purveyor of news, opinions, and admonitions; it also supplies the greater part of the literature currently read. ...The standards of excellence that govern this periodical literature... must in no way hamper the purposes of the advertisers. ...Taken in the aggregate, the literary output is designed to meet the tastes of that large body of people who are in the habit of buying freely. The successful magazine writers... follow the taste of the class to whom they speak... They must also conform to the fancies and prejudices of this class as regards the ideals—artistic, moral, religious, or social—for which they speak. The class... is that great body of people who are in moderately easy circumstances... the respectable middle class... of various shades of conservatism, affectation, and snobbery.