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- Wired has a fascinating article on the attempt by one man to create an alternative currency using the internet: E-Gold. Although E-Gold has failed (due largely to its attracting the attention of unsavoury types, and subsequently the FBI), this story raises all sorts of interesting questions about what money actually is, and whether national/supranational bodies are going to be able to maintain their control over the currency we use in day-to-day transactions.

- Nouriel Roubini analyzes Latvia's economic troubles, drawing parallels with Argentina's default in 2001. He writes: "At this point, a currency and financial crisis is pretty much unavoidable." Who cares? you might ask. But there are also strong parallels with Thailand's situation leading into the East Asian financial crisis which began in 1997. Only this time it is Europe's fragile economies that are on the line.

- Raging against bad statistics: Buiter on the costs of smoking and Ben Goldacre on the costs of illegal downloading.