Many of the readers of this blog will be studying economics for the very first time. Economics is a very exciting subject, which, if used properly, can be a very powerful instrument which aids our understanding of the economy and society. The Open University has a series of 60 second videos which explain six basic economic concepts in a novel and concise manner. You can watch them here.
According to Robert Shiller , speaking at Davos, Bitcoin is a perfect example of a bubble - story here . Shiller sees Bitcoin as a backwards step in the evolution of money. George Selgin , a free banker, takes an opposing view - click here . Although he doesn't believe that Bitcoin is money, he sees its development as a fascinating turn in the evolution of money. In particular, he lauds the fact that Bitcoin production is constrained and cannot be infinite. There is a short video below where Bitcoin explain how it works.