The England football team are perennial underachievers. Every major tournament sees them exit well before the semi-final stages and after every exit there is the usual inquest into why it happened. The usual suspects are tactics (England should have played a 4-3-3 instead of a 4-2-3-1), tired players, unrealistic press expectations, bored players, and injuries to key players. Imagine my shock when I read a Daily Telegraph article at breakfast this morning which blamed England's early exit on market capitalism! Click here to read the article.
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.