RATE Group | Blinded by the Light: Why Top Economists Are Wrong About Bitcoin
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Blinded by the Light: Why Top Economists Are Wrong About Bitcoin

30 Sep Blinded by the Light: Why Top Economists Are Wrong About Bitcoin

Posted at 02:25h in Bitcoin News by

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A long list of award winning economists have railed against Bitcoin and cryptocurrency, predicting spectacular failure. Nobel prize winner Paul Krugman has predicted the total collapse of Bitcoin because of its deflationary nature, going as far to call it “evil.”

Another winner of the Nobel prize for economics and a professor at Yale University, Robert Shiller, compared Bitcoin to failed currency experiments of the past.

Ken Rogoff, former IMF chief economist and Harvard professor, predicts that Bitcoin’s (BTC) 00 price will go to $100 dollars, and Nobel prize winner Joseph Stiglitz believes cryptocurrencies will be destroyed by governments once they get big enough.

So what’s with all the hate?

The Future of Power

The modern science of economics is usually traced back to Adam Smith’s seminal book, “The Wealth of Nations.” As the title suggests, Smith’s analysis was mainly concerned with understanding why some countries get rich and others don’t.

Therein lies the…

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