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:: MAX BLACK ::

"Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience." --C.S. Lewis

"The Swiss pocket knife of conservative thought on the web..." - Eli Kardrakian

"Bookmark Max and dump your subscription to the newspaper; if you don't have a birdcage you really don't need it anyway..." - Shirley St. James

:: Monday, December 06, 2004 ::

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-Posner Blog [NEW!] via Pejmanesque

:: Max 7:54 PM [+] ::
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