Nash and Hayek
Lance McLain <lance-X3DuywwxauBWk0Htik3J/[email protected]>
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Just watched A Beautiful Mind with my family. It was my second time seeing it. Russell Crowe really did a wonderful job with that part. Anyway, I was reading up on the real John Nash and found this interesting tidbit in the wikipedia article: Nash has developed work on the role of money in society. Within the framing theorem that people can be so controlled and motivated by money that they may not be able to reason rationally about it, he has criticized interest groups that promote quasi-doctrines based onKeynesian economics that permit manipulative short-term inflation and debt tactics that ultimately undermine currencies. He has suggested a global "industrial consumption price index" system that would support the development of more "ideal money" that people could trust rather than more unstable "bad money". He notes that some of his thinking parallels economist and political philosopher Friedrich Hayek's thinking regarding money and a nontypical viewpoint of the function of the authorities.[25][26] That was a nice bit of Hayekian confirmation for me. regards, -Lance -- dadl-ot mailing list http://mail.thehood.us/mailman/listinfo/dadl-ot_thehood.us http://news.gmane.org/gmane.music.dadl.ot