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Well you can certainly earn money from both that much is true, in my opinion running a blog is a lot easier and a lot more fun.
Not to mention the incredible Search Engine Optimisation benefits.
There are things you can do with a blog that you would find hard to do with a standard HTML based site.
Why are blogs fun? Well you try writing article after article for a static website and see how long it is before you get fed up.
Where with a blog you can write on different subjects and develop your niche becoming an expert in your field, not to mention the fact that you can receive comments from blog members/readers so instead of wondering if anybody is actually reading your content you get their personal take on what you have written and a lot of times this can make for an informative debate which is fantastic in terms of content and gaining reader interest in what you and you're your blog are talking about.
Plus its easy to set up blogs especially if you're using WordPress or Blogger functions which offer a very user friendly admin function, you can start a very good looking blog with the minimum of programming or writing expertise, try doing something similar for an HTML site on something like Dreamweaver or Frontpage and you will be pulling your hair out (trust me, been there, done that!).
As I mentioned earlier the Search Engine Optimisation of blogs can be fantastic, there are numerous free additions which you can add to your blog to improve that vital ranking on the search engines.
It's also important to note that search engines like Google love constantly updated content.
They also like content where people can interact (live comments on your blog means free content for you!) and that adds value to those who use their search engine.
Blogs on niche topics definitely fit this ideal.
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