Courses

William J. Luther

Assistant Professor of Economics at Kenyon College

Kenyon College

William J. Luther is an Assistant Professor of Economics at Kenyon College. He is also a Fellow with the Atlas Network and its Sound Money Project.

William Luther grew up in rural Otway, OH. From 2004 to 2008, he lived in Columbus, OH and earned a BA in Economics at Capital University. William Luther studied abroad for a semester in 2007 at the University of Cape Town.

From 2008 to 2012, Will Luther was a Mercatus Fellow at George Mason University in Fairfax, VA, where he earned an MA and PhD.

Will Luther is a big fan of The Economist  in audio, NPR’s Planet Money, and EconTalk.

In his free time, he enjoys cycling, hiking, and playing with his cat. Will Luther also tries to attend as many Columbus Clippers and Blue Jackets games as possible.

Blog Posts

How processing payments with Bitcoin is different than cash, banks

February 16, 2017
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Basic Economics

Arguably, the most interesting feature of the Bitcoin system is the way in which Bitcoin payments are processed. To make it clear why payments must be processed at all and how Bitcoin processes payments differently, I’ll look at processing payments with cash and banks before turning to bitcoin. Think about a cash transaction. Cash transactions have some desirable properties. If I were to pay you in cash, you'd be able to observe that I have a balance of dollars, and you would know when I've transferred the balance to you because you would see the dollars leave my hand and into yours. Moreover,

What is a cryptocurrency?

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Basic Economics

Cryptocurrencies are hot right now. Whether you tune into your local news, read The Economist, or scroll through tech sites like Ars Technica, odds are good that you've come across a story about Bitcoin, Litecoin, Dogecoin, Ripple, or a host of other cryptocurrencies. So what is a cryptocurrency exactly? The term “cryptocurrency” is a portmanteau, combining the words crypto and currency. Let's start with currency. A currency, or money, is a commonly accepted medium of exchange. As a medium of exchange, it's an item that you accept and exchange, even though you don't want to consume it, because

Demystifying Bitcoin

February 15, 2017
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Basic Economics

Whether you’re a paranoid libertarian who fears the coming monetary apocalypse or just a regular Joe looking to diversify your portfolio, you may have some interest in learning about Bitcoin. Like something straight out of a Neal Stephenson novel, Bitcoin has cyberpunk sex appeal. It foreshadows a radical change in the social and economic order and is shrouded with a mystique and aura that can be difficult to penetrate. But that’s why I’m here – to demystify Bitcoin for you. You’re welcome. The Bitcoin protocol was first described in a 2008 paper by Satoshi Nakamoto. “Satoshi Nakamoto”