How mobile is our society? Do parental characteristics explain their child's social outcomes? How easy is it for someone to get ahead if their parents are at the bottom of the social ladder? In a fascinating study, Neil Cummins and Greg Clark investigate social mobility in England over 800 years using surname evidence. The BBC have reported on the study here. Clark and Cummins find that social mobility is a lot lower than we previously thought and appears to be immune to government attempts at making society more mobile. Greg Clark has performed surname studies for other economies and has found similar results - see 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.