I found this interesting: http://www.nytimes.com/2013/04/15/opinion/krugman-the-antisocial-network.html
It seems like Krugman doesn't understand why gold (and Bitcoin) has value. He correctly states that the value of gold coins, when they were widely used, came from the expectation that other people would accept them as payment, but he doesn't seem to understand WHY people would accept gold coins as payment. He simply doesn't understand that something can be money without fiat or some utility, e.g. jewelery and teeth fillings. This man is a moron!
Topic: Krugman: doesn't know what money is (Read 366 times)
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