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Overview of Financial Blogs

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No self-respecting industry these days is without a must-read blog. And economics is not an exception. Although they vary wildly on fine points like depth of analysis and accuracy of predictions, they are now part of information universe and should be treated as such.  As economics is broken between "insiders" and "outsiders", the former are also a window into the inner workings, preoccupations and gossip of  huge (and currently shrinking) financial industry. Her is one funny take on the subject

[Jul 29, 2009] CapitalistImperialistPig One Idiot's Guide to the Economosphere

The XXI century can be called  "century of disinformation" as all major outlets being essentially voices  of powerful financial groups. As Stefan Stern aptly noted that there is "No hiding in misinformation age" (September 22 2008 )

“The information age” is a misleading label. It implies that most if not all of the words and data you get to consume in various media are essentially true. But this cannot be right, as some of the excessive market free-for-all of recent weeks has shown.

So if you read WSJ, NYT or FT.com the smell of corruption and attempt to whitewatch facts in the interests of power elite is almost physical. And the most important countervailing force now are paradoxically financial blogs.

Here are some of the most influential blogs across industries ranging from publishing and finance to health care and Hollywood, put together by The Wall Street Journal's beat reporters in these areas.

Old News ;-)

[Oct 1, 2009] Bond-related blogs

[Sep 18, 2009] Guest Post Are Financial Blogs Trustworthy « naked capitalism

By George Washington of Washington’s Blog.

The talking heads say that financial blogs aren’t trustworthy.

But the whole debate about blogs versus mainstream media is nonsense.

In fact, many of the world’s top PhD economics professors and financial advisors have their own blogs. For example (in no particular order):

And the conclusions of economists who don’t have their own blogs are collected by other bloggers and on YouTube videos. For example, this blog rounds up everything Marc Faber says.

And you’ve got blogs like Zero Hedge that break stories about Goldman and high-frequency trading months before the mainstream media. And insightful commentators like Barry Ritholtz and Mish and many others.

So what is “news”? What the talking heads choose to cover? Or what various leading experts are saying - and oftentimes heatedly debating one against the other - on their blogs?

I would argue that mainstream newspapers haven’t just lost readers because of the Internet as an abstract new medium, but that they lost readers because they became - with some exceptions - nothing but official stenographers for the powers-that-be.  No wonder people have lost all faith in them.

Indeed, as of February, only 5% of the pundits discussing various government bailout plans on cable news shows are real economists. Why not hear what real economists and financial experts say?

To the extent that blogs offer actual news and the mainstream media does not, the latter will continue to lose eyeballs and ad revenues to the former.

Of course, many financial blogs are not very good.  The trick is to learn which are trustworthy and accurate.

And this is not to imply that all mainstream commentators are short on facts. Some are really good.  Once again, the trick is find the good ones.

Thoughts On Economics

Financial Armageddon

 

[Aug 6, 2009] Financial Armageddon on the Rise

Financial Armageddon

Gongol.com, a long-time favorite of mine, is out with its latest EconDirectory, and I'm happy to report that Financial Armageddon has risen to 13th place (from 16th place in July) with more than 200,000 page views per month.
 

Rank Site Page Views   Pageview Ratio ...making this the ___ of business/econ websites:
1 Calculated Risk 67375 Increase 100.00% USA Today
2 Big Picture 62161 Increase 92.26% Wall Street Journal
3 Michael Shedlock 51743 Decrease 76.80% New York Times
4 Marginal Revolution 30512 Large increase 45.29% New York Times
5 Naked Capitalism 25883 Decrease 38.42% Los Angeles Times
6 Gregory Mankiw 17803 Decrease 26.42% Chicago Tribune
7 Carl Futia 14766 Large increase 21.92% Houston Chronicle
8 Economist's View 11143 Decrease 16.54% Long Island Newsday
9 Baseline Scenario 10876 Increase 16.14% Arizona Republic
10 VoxEU 9857 Large decrease 14.63% Boston Globe
11 Tax Prof 8466 Decrease 12.57% Portland Oregonian
12 European Tribune 7043 Increase 10.45% Kansas City Star
13 Financial Armageddon 6797 Large increase 10.09% San Jose Mercury-News
14 Half Sigma 6303 Decrease 9.36% Milwaukee Journal-Sentinel
15 Gongol 5764 Decrease 8.56% Columbus Dispatch

[Jul 29, 2009] CapitalistImperialistPig One Idiot's Guide to the Economosphere

 
  1. Anthropogenic climate change denialists
  2. Market Magic libertarians
  3. Creationists and like-minded anti-Darwinians
  4. Holocaust deniers
  5. Birthers (Obama is not a US citizen)
  6. Black helicopter conspiracy theorists*

Most of these people are not in mental institutions. Instead, they are in the Republican Party or other Libertarian fringe groups. What exactly is it that attracts the nut jobs to right wing politics? A lot of these people are just the left behind, the people who couldn't or wouldn't understand history, science, or logic. Others are just incapable of stretching their world view to accomodate reality. Still others are clinical. A common thread is a sense of grievance, but Dems have people like that too. There are left wing nutjobs, to be sure, but they don't run the Democratic party, or even have a real voice in it.

The people who control the Republican Party and it's machinery (Grover Norquist, Fox News, most other news) are usually not that dumb, of course. Instead they seem to be cynical opportunists seeking to take advantage of the credulity of masses by spreading what they know to be lies. Here I have in mind the editorial pages of the Wall Street Journal and the Washington Post as well as the Hannitys and Rushes. They really only have one platform: low taxes for the ultra-rich.

*In order of increasing separation from reality.

>

 

[Nov 16, 2008] This over-excitable Ambrose Evans-Pritchard

While being a Briton there is something deeply southern in his penchant to wild exaggerations...  Few US-related material might be OK (he served as Washington correspondent for some time)  but got forbid read anything he write about Europe, especially Eastern Europe or, worse, Russia ;-). All-in-all writings of this columnist need to be taken with a large dose of slat...

Top 50 Business Professor Blogs - Biz.Edu

Economics and Finance

From the economy of sports to the impact of traffic on the economy, these blogs offer a wide range of information from some of the best professors in the field.

  1. Grasping Reality with Both Hands: The Semi-Daily Journal Economist Brad DeLong. This popular blog, written by an economy professor from U.C. Berkeley, features posts about the economy with a heavy dose of politics.
  2. Financial Literacy and Ignorance. Annamaria Lusardi at Dartmouth writes about personal finance and how much (or how little) most people know about it.
  3. Pat Utomi’s Musings. Running for President of the African Democratic Congress, this professor at Lagos Business School-Pan African University writes about economics as well as discusses his platform.
  4. Professor Andrade’s Comments on Business, Economics, and Finance. This professor discusses the trade deficit, tax cuts, and more on this blog.
  5. ProfessorVC. This professor of entrepreneurial finance blogs about business and other interests.
  6. Carpe Diem. Mark J. Perry writes about gas prices, real estate bubbles, and more on this popular blog.
  7. Division of Labour. This collaborative blog is written by several professors and focuses on economics.
  8. The Transportationist. David Levinson and the Nexus Research Group on Networks, Economics, and Urban Systems write about topics such as traffic congestion, economic impact of traffic improvements, and bridge safety.
  9. Organizations and Markets. Four professors from America and Europe collaborate on this blog which touches on various aspects of economics.
  10. Conservation Finance. The title says it all for this blog written by Lars Christian Smith.
  11. CoreEconomics. Written by Melbourne Business School’s Joshua Gans, this blog looks at economics and a few other topics as well.
  12. The Wages of Wins Journal. These three professors of economics look at the economics of sports in this blog, which is a companion piece to their book The Wages of Wins.
  13. The Borjas Blog. Professor George Borjas specializes in labor economics and blogs about immigration and labor around the world.
  14. Economist’s View. Mark Thoma writes such topics as economic growth, financial markets, speculation and bubbles, and more on his economy blog.

A highly dubious top 10 list

The post stimulated an interesting discussion

But that's not gonna stop me from posting it. From Brad DeLong:
 

Here's what NetNewsWire throws up as tops in attention in the "economics" category:

* Mark Thoma's Economist's View http://economistsview.typepad.com/economistsview/
* Alex Tabarrok and Tyler Cowen's Marginal Revolution http://www.marginalrevolution.com/marginalrevolution/
* Justin Fox's Curious Capitalist http://time-blog.com/curious_capitalist/
* Barry Ritholtz's The Big Picture http://bigpicture.typepad.com/comments/
* James Hamilton's and Menzie Chinn's Econbrowser http://www.econbrowser.com/
* Angry Bear http://angrybear.blogspot.com/
* WSJ Real Time Economics http://blogs.wsj.com/economics/
* Paul Krugman http://krugman.blogs.nytimes.com/
* Felix Salmon's Market Movers http://www.portfolio.com/views/blogs/market-movers/
* Paul Kedrosky's Infectious Greed http://paul.kedrosky.com/

Comments

Obvious answer: your top ten doesn't include you yourself, so one of the others will have to go.
I know,I know. Brad DeLongs Weblog is missing. Its disheartening, the amount of ignorance in the world. Suffice to say, knowledgeable people know the best economic weblogs. We don't need no stinkin list makers.
How about the lack of a non-US-based blog?

I thought 'www' was an acronym for World Wide Web.

A case, I think, of the earth is a globular versus the earth is flat. Views differ.
Whuh? No Luskin?
 
No Calculated Risk? Seriously?
Dani Rodrik's blog on development economics really needs to be on here (http://rodrik.typepad.com/). He's one of the best development economists around and his blog is always well written, fair and interesting.

He really needs to be on any list of the top 10 economics related blogs.

Mankiw's blog and econlog by caplan and kling. Also, how about abnormal returns as a blog of blogs?.
Calculated Risk needs to be way up there.
What about Robert Reich's blog:

http://robertreich.blogspot.com/

Mankiw doesn't write enough to rate I think. I agree on Arnold Kling.

You need one right winger at least, if no other reason than the debate, if you don't like Luskin what about Cafe Hayek?

Also, I think Rodrick is good if you are economist, he is too hard to understand if not. So that one depends on what you are rating for, the general public or economists.

On that score, maybe Jane Galt, er Megan McArdle? She gets a lot of eyeballs and has a way of sparking debate with the way she writes. But she is not even an economist, so maybe not on that basis.

Perhaps it should be the Top 25 economic's blogs? I don't think 10 will do justice to the diversity of our subject and viewpoints.
I use Thoma, Kedrosky, Hamilton, Krugman. I also subscribe to DeLong, Naked Capitalism, Cassandra Does Tokyo, Brad Setser, William Polley; and Calculated Risk until they dropped the full RSS feeds...

I try and get minimal overlap but minimal gaps as well...

I follow Nouriel Roubini when he's free...not a monitor subscriber. Along with others mentioned here, including this site and Calculated Risk. Brad Setser's good, too.
I find Tyler Cowen to be utterly unreadable.

He is amongst the biggest of all the right wing hacks, only he is somewhat more eloquent than the obvious morons like Luskin. That eloquence allows him to get away with saying really stupid stuff.

EXAMPLE: His tirade about "Predatory Borrowing" was a huge embarrassment, for him as well as the NYT. It revealed him to be a clueless idealogue, guilty of the most egregious rightwingnuttery. He is unworthy of any thinking person's further time.

Musts include blogs are Calculated risk and Naked Capitalism
Impossible to list ten I think. I like Barry Ritholtz but I don't think he's top ten so I'd knock him out and replace him with yourself. But then what to do with Calculated Risk, Brad Setser, Naked Capitalism, Wlliam Poley, Dani Rodrik? That's a Top Fifteen. Glad to see someone besides me finds Tyler Cowen intolerable though.
Another vote for Calculated Risk, even though it isn't really an economics blog - call it applied economics with a narrow range of applications.

Damn good at what it does.

If we think of economics narrowly defined, I would downrate several blog that I consider essential reading (including this one and Krugman's) simply because so much of their excellent comment is outside of economics. (Just think of anything involving keywords "John Yoo", "Impeach" or "Why can't we have a better")

I would also severely downweight any blog that does not host comments (such as Mankiw's).

If we define economics narrowly, my vote for top is Chinn and Hamilton.

for a non-american blog, what about Buiter's Maverecon?
My portal to economic news is Dean Baker's Beat the Press (http://www.prospect.org/csnc/blogs/beat_the_press) from which I link to j-bradford etc. I also have it (j-bradford etc) in my favorites list.

I also read:

http://www.nakedcapitalism.com/

Calculated Risk

and Brad Setser

What I like about all these blogs is that they are empirically based, literate and analytical. If these folks refer to Marx, odds are they have actually read something Marx wrote, decided for themselves what he said that was of value and discarded the rest.

Free Exchange must be there if any MSM-hosted site makes the cut. Becker-Posner, even though they don't post often. Mankiw, Rodrik as others have mentioned.

I like WSJ Environmental Capitalism, though they may be too specialized for this.

No for Ritholtz and Kedrosky -- fine for trading and markets and business but no actual understanding of economics. Justin Fox is on the edge. Yes to Brad Setser, Maverecon, and Rodrik.
I'm completely unqualified to judge, but (seriously) shame on all of you for not including Duncan Black for his coverage of street economics.

Tyler Cowen's sense of satire is a bit too dry for my taste, oftentimes I swear he's serious. So I'd pick McArdle over Cowen. Megan or Andrea.

Calculated Risk, yes. Marginal Revolution, no. I'd second the nominations of naked capitalism. Too many blogs are derivative but Yves Smith's is not.
That NetNewsWire list strikes me as deeply suspect, and not just because I'm on there and you're not. But shouldn't you just give Six Apart your own totally subjective top 10 list and ignore the Web 2.0 noise of "attention" ratings and commenters' opinions?

[But this is what NetNewsWire reports *I* pay attention to. It's my *personalized* attention ranking...]

Free Exchange is often written more like an Econ 101 lecture than most other econ blogs - that is why I like it so much.

I really like Megan McArdle's Asymmetrical Information, but I would say that at most 50% of what she writes is actually about economics, the rest being culture/politics/random crap.

I also read Marginal Revolution and, of course, Grasping Reality with Both Hands.

Craig, you're being a little to generous. More then 75% of McArdle's stuff is crap. I'd vote for Nouriel Roubini.
Scratch my previous comment. I misunderstood the NetNewsWire attention ranking. I've read up on it since, and if I understand correctly it ranks the blogs that YOU pay the most attention to. So of course you're not on the list. And it strikes me as an entirely appropriate way to get at your 10 favorites of the moment, with the caveat that you don't necessarily have to agree with the taxonomy. That is, I'd say Barry Ritholtz, Felix Salmon, Paul Kedrosky and I aren't really economics bloggers in the sense that Mark Thoma or Cowen/Tabarrok or Hamilton/Chinn are.
2 top economics blogs missing from that list:

Calculated Risk
Beat the Press (Dean Baker)

Kedrosky and Salmon are great *great* blogs, but they're more about investment markets than economics.

Iyigun (Good day)Blog is also missing.
http://muratiyigun.blogspot.com/
Mr. Iyigun offers Marginal Middle Eastern Perspectives on Economics, Politics & Development.


 

i'd vote for calculated risk and naked capitalism
Dean Baker's "Beat the Press" is unique in providing timely commentary on contemporary press treatment of economic issues. It deserves a much wider readership.
"Kedrosky and Salmon are great *great* blogs, but they're more about  investment markets than economics"

agree

Two more essentials: Naked Capitalism
China Financial Markets (http://www.piaohaoreport.sampasite.com/)

Both terrific.

Frank the sales forecaster -- I have never "assured" anyone about anything in my life.

Perhaps you might care to forward that email to me ? I have no clue as to what you are referring to . . .

The two up-and-comers offering oases of reason in a desert of partisan blogs:

Capital Gains and Games (www.capitalgamesandgames.com)

EconomistMom (www.EconomistMom.com)

Chris Blattman's blog is tops for development.

chrisblattman.blogspot.com

Naked Capitalism certainly belongs on the list.

(although what do I know? Mr. Delong once said on this site that I penned the worst article ever to appear in the WSJ - possibly because he missed the fact that it was what I considered a rather obvious joke!)

Naked Capitalism certainly belongs on the list.

(although what do I know? Mr. Delong once said on this site that I penned the worst article ever to appear in the WSJ - possibly because he missed the fact that it was what I considered a rather obvious joke!)

Naked Capitalism certainly belongs on the list.

(although what do I know? Mr. Delong once said on this site that I penned the worst article ever to appear in the WSJ - possibly because he missed the fact that it was what I considered a rather obvious joke!)

sorry for triple post - my connection flipped out on me.
I second Naked Capitalism and Calculated Risk, especially in light of his being one of the only ones who accurately foretold in some detail. the housing crisis

Brad Delong's shouldn't be near the list. He rarely writes anything anymore, just linking to other people who do the hard work.

Mankiw is similar but worse. Half is posts are just self-promotional.
 

Here's another vote for Calculated Risk.

No one's mentioned it, but I think the blog is also an amazing underdog (underpig?) story-- that an anonymous woman whose credentials aren't some degree or professorship, but just mastery of craft could be cited by so many as one of the top ten is an achievement on her part, but no small indictment of the economics establishment. Yes, she has a great partner, but we all read her for her snarkiness, the same way we watch car races for the crashes.

Oh, Stumbling and Mumbling.

http://stumblingandmumbling.typepad.com

One more vote for Willem Buiter's . Alas, maverecon takes off for vacation tomorrow and will not resume blogging until August 28.
The Mises Institute

http://www.Mises.org

At least four of those--Fox, Salmon, Kedrosky, Ritholtz--are Finance blogs, not Economics ones. (WSJ is open for argument, but not much of one.)

Which is my argument against Yves Smith and, to a lesser extent, CR/Tantaville.

Hamilton/Chinn no question. AB, no question (bias admitted; it would be a clearer choice if you skiogs, it would be Blattman or Rodrik, Capital Gains and Games (Samwick et al.), Econospeak, Stumbling and Mumbling, and Polley, with Economist Mom on deck. Which gives you a spectrum--that's the English translation of Brooks's argumentfor CG&G and EconMom--and one to keep attention on development.

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Top 50 Business Professor Blogs - Biz.Edu