Are blogs simply a fad? Not according to a few Wharton professors who study their impact and potential. Check this out:

Will bloggers upend the mainstream media? What legal protections should bloggers have? Is there a blogger business model? While no definitive answers exist just yet, experts at Wharton advise questioners to be patient. Blogging, they note, will be around for a long time.

Wharton legal studies professor Dan Hunter puts blogging right up there with the printing press when it comes to sharing ideas and disseminating information. "This is not a fad," says Hunter. "It's the rise of amateur content, which is replacing the centralized, controlled content done by professionals."

The growth rate of blogs is impressive. Technorati, a search engine that monitors blogs, tracked more than 8 million online diaries as of March 21, up from 100,000 just two years ago. A new blog is created every 7.4 seconds. That adds up to 12,000 new blogs a day, 275,000 posts a day and 10,800 updates an hour. "At its most basic level, it's a technology that is lowering the cost of publishing' and turning out to be "the next extension of the Web," says Wharton legal studies professor Kevin Werbach. "Blogging is still in its early days. It's analogous to where the Web was in 1995 and 1996. It's not clear how it will turn out."Continue here.