Here is the very good Boston Globe article, which focuses mostly on the financial crisis. Excerpt:
In a sense, economics was a field made for blogging: Its ideas advance
by disputatious back-and-forth, and not surprisingly these professors
took to gently (or not so gently) mocking one another's writings, even
engaging in lengthy arguments that stretched out over days, if not
"Any major blogger who makes a mistake is corrected in five minutes,"
says Cowen. Yves Smith agrees: "It's a version of the Wikipedia effect,
with people correcting each other."
Addendum: Our apologies, typepad comments are down for this entry (only). I have to run out this moment but I'll set up at least a temporary fix for tomorrow's Keynes symposium, part I. What typepad is doing is trying to switch to a new system. Every time they switch it turns off comments for some bloggers (but not all). They switch back to the old system and comments are fine again but a few days later they try out the new system again, etc. Sorry! They really do need to get this problem solved.