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October 12, 2005



Or, to bring the analogy home, one could say that journalists have been transformed into junior associates ...


Surprising that Posner used a medical analogy when an economic one would have been much better! I think the relationship between blogging and journalism is better understood as one of specialization and comparative advantage. Journalists have a comparative advantage in being willing and able to make phone calls, talk F2F with people, and consult public records. They are discovering to their dismay that they have no comparative advantage in being able to interpret, analyze, and synthesize their factual findings. In essence, the journalism profession has been turned into a huge army of research assistants.

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