Are there too many journalists?

Are there too many journalists? That's the provocative question asked by this blog, which uses numbers to show no correlation between size of staff and newspapers sold. Even better are some of the points made in comments, especially one by Judy Sims of SimsBlog, who points out the importance (not mentioned in the analysis) of promotion and advertising. By the way, her blog is fast becoming one of my favorites. I'd especially recommend her current post, "If Newspapers Cease to Be, There Will be Two Causes of Death," in which she only gives one, promising the next in up upcoming post.