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Jay Currie

One Damn Thing After Another


So now I know what I'll be reading every Monday

Gary Becker and Richard Posner have started a blog. One of the few things which made the slightest sense to me in law school was work in law and economics. Specifically, Becker and Posner. They certainly get the blogosphere,
Blogging is a major new social, political, and economic phenomenon. It is a fresh and striking exemplification of Friedrich Hayek’s thesis that knowledge is widely distributed among people and that the challenge to society is to create mechanisms for pooling that knowledge. The powerful mechanism that was the focus of Hayek’s work, as as of economists generally, is the price system (the market). The newest mechanism is the “blogosphere.” There are 4 million blogs. The internet enables the instantaneous pooling (and hence correction, refinement, and amplification) of the ideas and opinions, facts and images, reportage and scholarship, generated by bloggers.
becker and posner