After years of Micawberism, many newspaper publishers now accept that no amount of cost-cutting and laying off of journalists can keep up with plummeting revenues.

• 多年来的米考伯式的乐观主义已然不见踪影，众多的报纸发行商终于相信，再怎么压缩成本，裁减员工，都赶不上收益急剧下降的速度。