Monday, April 15, 2013

Krugman on Bitcoin and the Essence of Money

So it's more or less the fact that money isn't "real" the way that people want it to be...period. Live your life (and pay your bills) anyway. Krugman explains how the roller-coastering of bitcoin exemplifies this fact.

The furor over bitcoin was a useful lesson in the ways people misunderstand money — and in particular how they are misled by the desire to divorce the value of money from the society it serves.

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