The Becker-Posner blog is live. First two sentences:

Blogging is a major new social, political, and economic phenomenon. It is a fresh and striking exemplification of Friedrich Hayek’s thesis that knowledge is widely distributed among people and that the challenge to society is to create mechanisms for pooling that knowledge.

Faithful readers of the Door may remember an earlier post that briefly made the connection between Hayek and blogs.

(To give the rest of the econobloggers a chance, Becker and Posner state that initially they will only be posting on Mondays.)