Following on from Monday's post, here is a post on the Irish Economy blog by Oxford's Kevin O'Rourke, which looks at the importance of economic and financial history to economic theory and economic policy-making (hat tip - Christopher Coyle).
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.