Williamson on the economics blogosphere

Steve Williamson has an insightful set of posts, Minneapolis Redux, and Journalists Looking for a Fight. They are tangentially on the Minneapolis Fed affair, but really about the coverage of the affair and deeply thoughtful about how the economics blogosphere is evolving.
Reporters at the Minneapolis Star-Tribune, the Financial Times, the Wall Street Journal, and other outlets were fair, I think. They talked to the people involved, and covered the story the way good reporters should. What went on in the economics blogosphere I think is revealing of what this medium can and cannot do. In many cases, bloggers dived into the story and did what they do best. They made stuff up, or repeated things that have become "blog truths" - basically fiction that, when repeated often enough, somehow becomes truthy. 
So, this runs from the outrageous to the comical, covering all points in between....
His own posts here set a high standard for looking up, checking, and linking to the things he's talking about. Hopefully the market test will induce us all to better blogging.

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