Hedge Funds are major players in the modern financial system and hedge fund managers earn substantial sums of money. The Rational Irrationality Blog over at the The New Yorker has two posts which provide a variety of explanations as to why hedge funds earn so much - click here and 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.