Excerpt from a blogging reality check
The back-and-forth between bloggers resembles the informal chats, in university hallways and coffee rooms, that have always stimulated economic research, argues Paul Krugman, a Nobel-prizewinning economist who blogs at the New York Times. But moving the conversation online means that far more people can take part. Admittedly, for every lost prophet there is a crank who is simply lost. Yet despite the low barriers to entry, blogs do impose some intellectual standards. Errors of fact or logic are spotted, ridiculed and corrected. Areas of disagreement are highlighted and sometimes even narrowed. Some of the best contributors do not even have blogs of their own, serving instead as referees, leaving thoughtful comments on other people’s sites and often criss-crossing party lines.