Matthew Yglesias, writing at Talking Points Memo,
One of the most neglected aspects of the blogosphere, in my opinion, is that precisely because it’s (mostly) composed of people who aren’t professional journalists, it’s composed of people who are professional doers of something else and know a great deal about what it is they “really” do. Consequently, the overall network of blogs contains a great deal of embedded knowledge. The consensus that emerges from that process can, of course, be mistaken but even though the most prominent people expressing that consensus may not be experts in the subject at hand (the most prominent bloggers tend to be generalists), the consensus will almost always be grounded in some kind of well-informed opinions.
In another post, Matthew links to a blogger from 1775, who wrote,