BitShares Forum

Main => General Discussion => Topic started by: Method-X on September 27, 2014, 03:41:04 am

Title: "Ideal Money" proposed by John Nash in the 1970s
Post by: Method-X on September 27, 2014, 03:41:04 am

I recently began reading up on "ideal money", an idea proposed by John Nash decades ago. I'm in awe at the similarities to what we're trying to achieve here...

Ideal Money is a theoretical notion promulgated by John Nash, to stabilize international currencies. It is a solution to the Triffin dilemma. He proposed that international exchange rates be fixed by pegging the value of each currency to a standardized basket of commodities, called the industrial consumption price index. Such a policy would curtail the ability of central banks to make monetary policy.

http://sites.stat.psu.edu/~babu/nash/money.pdf
http://www.eecs.harvard.edu/cs286r/courses/spring02/papers/nash50a.pdf
https://www.youtube.com/watch?v=Je22xKQekCk