Hmm.
That the economics blogosphere is as close to a global free market* as we can get shows the need for more local production.
Hmm…..
* Zero cost at the point of consumption, zero transport costs, 7 billion potential providers etc
Hmm.
That the economics blogosphere is as close to a global free market* as we can get shows the need for more local production.
Hmm…..
* Zero cost at the point of consumption, zero transport costs, 7 billion potential providers etc
The argument is more like the International Trade argument regarding industrial clusters: factories are in an area because other factories are also in an area which keeps costs low.
If you want a blogosphere about New Zealand economic policies, you need more blogs about New Zealand economic policy, since that encourages even more blogs about New Zealand economic policy.
*”in the area, which keeps costs low”
My apologies for the off topic post, but… gentlemen, start your outrage.
http://www.guardian.co.uk/uk/2012/mar/27/student-jailed-fabrice-muamba-tweets
Matthew, I wonder why our famously independent judiciary feels the need to reflect public outrage. Even assuming they’re capable of measuring it.
Navin makes the basic point. To a large degree economic policy is country specific and thus if you want discussion of a given country’s economic policy you need a reasonable number of blogs to maintain ongoing conversations. People in Europe or the US have no interest in New Zealand’s economic issues and thus are unlikely to become involved in discussion of such problems.
On more general economic topics you can take advantage of the worldwide blogosphere.
Navin and Paul seem to have the right way of it.
Also, are blogs a “market”? Mostly they appear to be hobbies. Nothing wrong with that, but there is little or no price structure or trade in the blogosphere, either in money or in kind.
Blogrolls, hat-tips, quotes could be seen as trade in kind, sending trffic in return for enjoyment or material…
Zero transport costs? Not quite. You have to pay to get your internet connection – and then you pay for your bandwidth. And then if you’re doing anything more than emailing, you’ve got the cost of your website hosting to add as well.
Zero consumption costs. Not quite. Same thing as above, you need to pay to connect up to an ISP.
SadButMadLad: Zero *marginal* consumption costs.