Suppose an inside scoop of official secrets gives some market players an unfair advantage—is that a good reason to muzzle the media?

People who are concerned about runaway secrecy and who cheer when the media break important stories in defiance of government edict may still find this particular affair worrisome. Suppose the official secrets that are illegally leaked are published in an exclusive newsletter for a narrow sliver of the public that pays a lot of money […]