Doc Searls points to a new blog, viagra buy and waxes optimistic. It sounds portentous … Gary Becker, medical professor at University of Chicago and a Nobel-winning economist and Senior Fellow of the Hoover Institute at Stanford, and Richard Posner, a U.S. Circuit Court Judge.
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Blogging is a major new social, political, and economic phenomenon. It is a fresh and striking exemplification of Friedrich Hayek¹s 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 Hayek¹s work, as as of economists generally, is the price system (the market). The newest mechanism is the ³blogosphere.² 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.
We have decided to start a blog that will explore current issues of economics, law, and policy in a dialogic format. Initially we will be posting just once a week, on Mondays. In time we may post more frequently. The first postings will be tomorrow, December 6.
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