Edward Hadas

Bitcoin repeats gold-standard errors

By Edward Hadas
January 22, 2014

I cannot judge whether bitcoin represents a technological breakthrough, but I am confident that the pseudo-currency’s popularity shows widespread economic amnesia. If bitcoin ever became a real currency, it would suffer from the crippling problems of the gold standard.

An early obituary for bitcoin

By Edward Hadas
January 8, 2014

Bitcoin is not over yet. But the pseudo-currency is close enough to collapse to merit an early retrospective.

Bitcoin is a step back not forward

By Edward Hadas
November 27, 2013

The developers of bitcoin are trying to show that money can be successfully privatised. They will fail, because money that is not issued by governments is always doomed to failure. Money is inevitably a tool of the state.

The menace of financial markets

By Edward Hadas
February 20, 2013

Financial markets are unstable, unhelpful and often immoral. They should be kept under better control.