Stumbling and Mumbling, An extremist, not a fanatic
Chris Dillow has a taste for addressing the real issues, as he is more interested in the behavior of people and the purpose of economics than in economic mechanisms themselves. He sometimes gets lost in obscure details or British politics, but more often than once, he's spot on.
The Conscience of a Liberal
Paul Krugman is the 2008 Nobel Prize winner and he's been a columnist for the New York Times for years. He's one of the most influential economist of the day and, as the leading voice of the neo-keynesian school, a fierce opponent of conservative economists and republican politicians, which attracts him some hostility in its home country.
His views do not extend to completely rejecting mathematical models and he doesn't favor much heterodox theories. You should however think twice (or more) before you object to one of his comments.
Mainly Macro, Comment on macroeconomic issues
Simon Wren-Lewis is a Professor in Oxford, and he looks like a highly competent and non-partisan expert on macroeconomics.
His posts are a bit technical and he often refers to theoretical considerations that may not be necessary to make his point. He believes in fancy models (micro foundations), but he focuses on highly relevant matters, and the conclusions he comes to hardly are disputable.
Brad DeLong, Grasping Reality with Both Invisible Hands: Fair, Balanced, and Reality-Based: A Semi-Daily Journal
This is a blog with the lay-out of a 20th century amateur website, which makes it somewhat difficult to read. But the look of the blog is inversely proportional to its interest, as Brad DeLong often expresses clear and remarkable analyses (This time is not different (pdf), or Re-capturing the Friedmans).
Mark Thoma is professor at the University of Oregon and his blog is one of the most followed in the economic blogosphere. He posts some of his own articles, but mostly reposts the most relevant articles of his colleagues (with a predilection for Krugman and DeLong). If you intend to follow only one blog, this should probably be the one.
Martin Wolf is a British journalist who comments economic news for the Financial Times. He's one of the very few voices who warned about the problem caused by the euro in the current crisis. And he's not exactly optimistic for the future. I wished I had cared about economic blogs and read Martin's opinion sooner.
The Market Monetarist, Markets matter, money matters
Lars Christensen is a Danish economist who strongly supports modern monetary theories (would you have guessed that?). As far as I can say from my limited knowledge of that school of thought, talks of more general issues, and perhaps in a more relevant ways than other proponents of market monetarism.
Worthwile Canadian Initiative, a mainly Canadian economics blog
Nick Rowe is professor at Carleton University and is the main contributor to this blog. He Like for Sumner, I haven't read enough of him to have much of an opinion yet, but it looks like he posts some original stuff. He admits not to be very comfortable with maths.
The Money Illusion, a slightly off-center perspective on monetary problems
Scott Sumner, professor at Bentley University, is one of the leading proponents of new monetary concepts (they advocate that central banks should follow a strategy consisting in keeping the nominal GDP growth constant, i.e. growth plus inflation totaling 5% for example). Try to read him and make your own opinion. I'm not sure what to think yet, except that it is an interesting read.
Confessions of a Supply-Side Liberal, a partisan nonpartisan blog
Miles Kimball is a supply-sider, which means he likes neo-classical models and dislikes taxes. But unlike many other supply-siders, he keeps his mind very open to Keynesian and heterodox ideas, his thinking appears to be sometimes quite original, and he favors social progress.