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The Genius Of Blogs

So I'm reading Matt Yglesias's blog and I notice he's recommending a post by Hendrik Hertzberg on Charles Krauthammer's ideological evolution. Being a fan of Hertzberg's and a detractor of Krauthammer's, and working at the magazine where both launched their journalism careers (I think), I naturally click through. And it doesn't disappoint.

But then it occurs to me that it's been a week or two since I last caught up on Hertzberg's blog. So I read through a few more equally terrific items, until I notice that Hertzberg is recommending an Yglesias post I'd somehow missed. It's on the idiocy of blaming the housing bust mostly on people who bought houses, rather than the people who gave them mortgages. It too is very, very good.

I don't really have a point here, other than the obvious: People used to say the market is the most efficient mechanism ever made for synthesizing information. But, amid our ever-worsening global financial s**t-storm, it's pretty clear that the blog has overtaken it.

That's all.

--Noam Scheiber