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Tetronian comments on News: The Quest for Unknown Unknowns - Less Wrong
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Reading the mainstream news can be instrumentally useful. For example, if you have invested money in the stock market, knowing what's going on in the world can help you predict future trends. The fact that lot of the media is dominated by political squabbles doesn't make reading about current events entirely worthless.
I know. But I thought the stock market was a good example of why it's important.
Ah, I see. Hmm...perhaps we could divide the news into sections (sports, international, national, entertainment, op-ed, etc.) and try to estimate the utility of each section? Although I fear that the answer my be dependent on where you live.