13 January 2011

Why So Libertarian?

Mindful Money has released a list of the twenty most influential economics blogs (HT Naked Capitalism):

1. Naked Capitalism
2. Infectious Greed
3. The Big Picture
4. Jesse’s Cross Roads Cafe
5. Zerohedge
6. Mish’s Global Economic Analysis
7. Calculated Risk
8. Paul Krugman’s Blog
9. FT Alphaville
10. Ludwig von Mises Institute
11. The Market Trader
12. WSJ Blogs
13. The Epicurean Dealmaker
14.Credit Writedowns
15. Dealbreaker
16. China Financial Markets
17. Max Keiser
18. The Angry Bear
19. The Economist
20. Jr. Deputy Accountant

I’m pretty shocked my humble blog didn’t make the list.  Maybe I misunderstood the self-nomination process.

Kidding aside, it’s interesting to see how well represented the Austrian/Libertarian side of the spectrum is.  Even more surprising is the small showing of leftist-leaning blogs.  Krugman appears to be the only one, at least given my familiarity with the blogs listed here (I follow half of them).  Mainstream economics is represented by Calculated Risk and the Economist.

I think the reason why so many of the blogs lean toward the libertarian side of things can be explained by the self-selection bias.  Economics is hard, and requires that one engage in prolonged, logical, abstract thought.  Indeed, it’s the reason why Krugman is so exhausted at the end of writing each post:  he’s out of shape at this sort of thing.

Anyway, those who tend to be both interested in and capable of economic analysis generally tend to be more libertarian in philosophy and outlook, so it should come as no surprise that they read blogs that share their sentiments.

One closing thought:  That Paul Krugman is apparently the best the left can offer in the realm of economic analysis really speaks poorly of that side of the spectrum.

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