Every year my Money and Banking class write blogs as part of their coursework. There was a tie this year for the top spot between Philip Ellis and Andrew Copeland. Philip's blog was a piece of analysis looking at the informal market in Vietnamese Dong. Andrew's blog looks at creative destruction in the context of bank failures and bailouts. In the runner-up spot was Claire Doran - her blog looked at the role of women in banking.
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.