The Nobel Prize in Economics has been awarded to Alvin Roth and Lloyd Shapley for their work on game theory and market design. The press release is here. Once again the Nobel committee's selection was not one predicted by the pundits. Roth's blog can be accessed 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.