Skip to content
Subscriber Only
Technology
Economics

It Looks Like Nobel Economics Laureates Don't Like Bitcoin

Video player cover image
Nobel Laureate Joseph Stiglitz discusses Bitcoin and explains why the digital currency "ought to be outlawed."(Source: Bloomberg)

A day after Nobel laureate Joseph Stiglitz said bitcoin should be outlawed, another winner of the economics prize said the digital currency will eventually repeat the U.S. stock market crash that preceded the great depression.

Robert J. Shiller, the Yale economist whose work covers the prediction of asset prices -- and the inefficiency of markets -- said the attraction of the currency was a narrative akin to a "mystery movie" that draws in people who want to outsmart the system.