QUANTIFYING THE BLOGOSPHERE
Oscar Jr. runs some numbers based on site traffic and links and finds there to be a strong positive correlation between the two. To his analysis I add the following qualification: We must make a distinction between permanent links (i.e., blogrolling of the site itself) and vanishing links (a mention of a specific post that disappears into the archives after a few days).
My thesis is that permanent links are generally much more valuable than post links–with the notable exception of Instalanches. (Glenn’s blogroll is gigantic and unorganized–not that I wouldn’t like to be included–whereas his mentions of a site generate a ton of traffic, albeit for only two days or so.)
This will almost certainly explain a lot of the variation Oscar sees. For example, almost everyone links to InstaPundit and, during the war at least, Command Post. They visit those sites a lot but they don’t link that often to specific posts they read there.