Jay Rosen has taught journalism at NYU for 25 years. He boils down what he thinks he knows about journalism into these four ideas:
1. The more people who participate in the press the stronger it will be.
2. The profession of journalism went awry when it began to adopt the View from Nowhere.
3. The news system will improve when it is made more useful to people.
4. Making facts public does not a public make; information alone will not inform us.
He expounds on each of those here. Worth a read.