A very cool piece at The Economist today describes the impact that economic bloggers are having on the mainstream of the profession. Economics is one of those topics where everyone has an opinion of the way things ought to be run. This race to participate is obviously both a blessing and curse.
Either way though, what gets said online about the economy is having more and more of an impact – particularly in the wake of such an epic failure of mainstream thinking this past decade…
Economics, perhaps more than any other discipline, has taken to blogs with gusto. Mainstream figures such as Paul Krugman and Greg Mankiw have commanded large online audiences for years, audiences which include many of their peers. But the crisis has made the academic establishment fractious and vulnerable. Highly credentialed economists now publicly mock each other’s ignorance and foolishness. That has created an opening for the less decorated members of the guild, and the truly peripheral. In the blogosphere anywhere can be, as the title of Mr Mosler’s blog has it, “The Center of the Universe”.
Read the rest:
hat tip David Merkel