I note in The Economist that there is a school of economic thought that was “born in the blogosphere,” neo-chartalism (represented by Mecpoc.org and TheMoneyIllusion.com), which is really only a way of saying that the ideas were not incubated in the mainstream media. See Heterodox economics: Marginal revolutionaries in The Economist.
A few years ago, in Extreme Democracy, I was fortunate to work with a group of authors who examined how the forging of political movements could be influenced by the Internet and agile programming concepts. The Economist’s unbilined column is generally positive on the phenomenon of economics concocted outside the mainstream, because, it concludes, economic theory is often distilled from the less refined ideas from the fringes. Okay, but is it not the case that all movements — well-thought through and those built on whack-o assumptions alike — are always talked up from oblivion to prominence?
For what it’s worth, Extreme Democracy can be sold back to Amazon for $0.54 after all these years, though it’ll still cost you $13.48 to buy it used (or $28 new). Consider this my $0.54 on the following….
“Forged in the Blogosphere” is only a way of saying that the ideas were developed through the most contemporary form of discussion available, just as Enlightment thinking grew on branches of the early mail networks that carried private letters to and fro across Europe, North America and Latin American, Asian and African colonies. It’s good to see ideas developing from the ferment of the blogosphere, but they also need to develop in academy, the “mainstream” (e.g., something still printed or delivered via television) press and elsewhere.
The challenge neo-Chartalists face is not so different from any prior school of economics or Web political campaign, to “cross the chasm” into widespread contemporary thought.
And that is hard.
But this is all a way of saying, by the by, that I am going to be participating in the blogosphere, again, after a break of a few years. Something about writing became very difficult for me during my neck problems — probably due to all the Percoset I was chowing down on — but it got no better in the first couple years that I’ve worked at Microsoft, either. So, it’s time that I just churn it out and see what happens. The worst that could happen is that I remain a movement of one, I guess, but that’s always been the way it is with writing.
I’ll be starting to chew on things here. Please stay tuned and give me your feedback.