What is inflation? Why do we have it? What's bitcoin? Economist Larry White breaks it down. MORE ABOUT LARRY WHITE Larry White is a banking and money scholar who has taught at NYU and George Mason University. He has authored several books and edited numerous volumes on monetary theory and banking history. He has received the Adam Smith Award and is currently a senior scholar of the Cato Institute Center for Monetary and Financial Alternatives and a co-editor of Econ Journal Watch.