From CNET:
Those who have voiced skepticism over the reliability of information found in Wikipedia should take note of this.Of course, Wikipedia admits its own errors, but that is part of its project. Unlike a printed encyclopædia, where what is already printed is "set in stone", Wikipedia is dynamic. When an error is found, whoever found it can correct it "in real time," and the correction is immediately available to all users.The collaboratively assembled encyclopedia maintains a page devoted to correcting errors in its chief offline competitor, the venerable Encyclopedia Britannica.
In a related story, Esquire magazine used Wikipedia's model (and user base) to write an article about Wikipedia itself.
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