Stephen Carson has mentioned how services such as Digg have lowered the barriers to entry in the dissemination of information. In their latest issue, The Economist discussed economists that blog. One interesting nugget stood out:
Top universities once benefited from having clusters of star professors. The study showed that during the 1970s, an economics professor from a random university, outside the top 25 programmes, would double his research productivity by moving to Harvard. The strong relationship between individual output and that of one’s colleagues weakened in the 1980s, and vanished by the end of the 1990s.
The faster flow of information and the waning importance of locationâ€”which blogs exemplifyâ€”have made it easier for economists from any university to have access to the best brains in their field. That anyone with an internet connection can sit in on a virtual lecture from Mr DeLong means that his ideas move freely beyond the boundaries of Berkeley, creating a welfare gain for professors and the public.
Universities can also benefit in this part of the equation. Although communications technology may have made a dent in the productivity edge of elite schools, productivity is hardly the only measure of success for a university. Prominent professors with popular blogs are good publicity, and distance in academia is not dead: the best students will still seek proximity to the best minds. When a top university hires academics, it enhances the reputations of the professors, too. That is likely to make their blogs more popular.
Be sure to read:
Blogs as a marketing tool for economics departments and Will the University Survive?