In the market of ideas, blogs fulfill the revolutionary promise of information technology. They enable anyone with enough digits and internet access to publish their thoughts, articles, essays, rants, and babble to a potentially unlimited readership. The unregulated nature of on-line publishing (China’s best efforts notwithstanding) has brought forth a dazzling quantity and array of thought-forums from which readers can chose. The nature of the beast, of course, is that most of what is out there is little more than spurious dreck. There are no editors, no fact-checkers, and no one to steer the author away from Bukowskian details on what they had for breakfast or how their crusty scab fell off, this afternoon.
But that is the beauty of blogging: Self regulation at its very best. While 99.9% of blogs will be read only by their authors and three buddies, possibly coerced, quality asserts itself quickly and rises to the top. With no editorial straightjacket on the information or the quality of offerings, the consumer chooses by his action (reading—or not; spreading the word—or not, linking—or not) what makes a quality product. The “blogosphere” is like a little experimental universe validating consumer choice vs. regulation—and consumer choice has won a colossal victory. Trial and error may not help find the right surgeon, but it seems to be a great way to find your right media diet. By and large, blog consumers have shown an incredible sense for quality and reliability.
Left to the free market of ideas and instant reader feedback, good writing, quality and reliability in blogging secures a readership and reputation solely on merit. The analogy to “democracy” may be clichéd but the blogosphere is a prime example of Milton Friedman’s credo (“Capitalism and Freedom”) that minimal (or no) regulation and state licensing are best; they are too often a pretext to shut down competition not protect the populace.
All the more reason, then, why Friedman should be the patron saint of the Age of Blogging: people with brains, networks, and powers of self-expression don't wait for journalism degrees anymore to have an impact. Indeed the response of 'mainstream' journalism to blogging (if you can't beat 'em, join 'em) vindicates Friedman's skepticism of credentialing like few other phenomena of the past 50 years.
(HT Russ Roberts)
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