On The Purposeful Fragmenation of the Mind
We stifled John Nash's growth and we stifled society because of it too.
I'm going to move unapologetically fast and without citations, because my readers will trust me by now.
It is said and known that John Nash was telling people that he was receiving information and ideas from aliens. This is part of the story of how he went mentally ill (but thankfully magically recovered by healing himself).
But it is obviously useful to think outside of the box, and like it would be incredibly useful to have put the sun at the center of our solar model (rather than the earth), or it would useful to understand the world to be a sphere (and therefore there are no ends of the earth), it would be helpful, especially in monetary theory, to think about interaction with aliens.
It is in fact this realization that is the basis for Ideal Money, and Ideal Money is a concept John Nash invented when we was mentally ill and claiming he was speaking with aliens.
There is another important concept which I'll move over incredibly fast and without citations again.
Nash's equilibrium theory, is effectively based on two players (or more) who each play a game perfectly in relation to each other. This could be simulated or brute force calculated by repeated play between players that are adjusting their strategies in relation to each other (with the assumptions each player is actually trying to win and capable of reason (reason which allows them to properly update their strategy)).
Its another way of saying that eventually the players will get to a place where each of them are doing the best they can versus the other player (with the assumption that both players are good and they each know the other player knows this etc. to infinity).
Without computers (ie back in the day), the way to do this would be to find another good player. But this is sort of irrational from Nash's standpoint.
So he had to fragment his mind, and play versus himself.
This (coupled with confidence and fast neural computing speed (which comes from a type of confidence)) is how he came up with the Nash Equilibrium.
You'd have thought someone with his intelligence would understand Keynesian Economics. Maybe it's his schizophrenia that gave him these thought but what a load of crap! Keynes wanted a fairer system, he saw that a free market wouldn't correct itself without harming people (balance people speak of is workers accepting lower wages in return for employment but then possibly being unable to own their own home or save for the future and the benefit of their loved ones).
How is it a mathematician such as Nash cannot understand the economics of helping people? When you help people by making funds available to them, they spend that money and that helps businesses, the Treasury receives some of that cash back in the form of taxes (well, to be realistic they get it all back at some point!) and it's recycled and invested in public services etc.
No. He criticizes what he calls "keynesianism" and he defines it as central banking practices. He doesn't criticize Keynes. This article and headline is shit: http://www.zerohedge.com/news/2015-06-02/john-nash-hated-kaynesians
He even praised Keynes for his probability treatise in the 8 pages of Ideal Money.
He is explicate in the distinction between keynes and what became accepted as keynesian economics.
Don't worry.
I am the guardian of this truth.
Don't speak harsh vs mental illness please.
Nash is smart. He purposefully made sure not to offend you. Please take a moment to read the truth of this: http://sites.stat.psu.edu/~babu/nash/money.pdf
He should not have mentioned Keynesian Economics because it's already associated in public perception as a socialist theory of economics and Nash has said he sees it all as similar to the Bolshevik Revolution where promises were made to improve things but those things didn't happen.
"Then, more specifically, a “Keynesian” would favor the existence of a “manipulative”
state establishment of central bank and treasury which would continuously seek to achieve
“economic welfare” objectives with comparatively little regard for the long term reputation
of the national currency and the associated effects of that on the reputation of financial
enterprises domestic to the state." - Actually helping people is supposed to be a way of almost guaranteeing long term improvements for the National economy. People spend money, businesses that take that money are likely to be in a better position so they're able to employ more people, they all pay taxes etc etc so it benefits us all. Plus if the currency weakens we export more (although it's great to have a stronger currency for investment purposes) so whatever happens we make money and those businesses exporting more will expand here and overseas, employ more people, including agents Worldwide, so will help the GNP. He basically criticises Keynesian Economics for a belief in helping people using the resources of the State.
It's not being harsh, it's being realistic about his mental illness. Schizophrenia changes beliefs and people can be manipulated easier when they're not 100% in control of their thoughts.
the belief that destabilizing our metric for valuation can help the people is insanity. This is why Nash was quiet about this proposal.
Sorry but that made no sense whatsoever
we need a standard metric for value. and the argument we need to mess with that metric is insanity.
This character is becoming more interesting by the day, thanks for taking the time to speak about this. Do you know where I could learn more about the interactions this guy said to have had?
yup google it and my writings will come up.
I mean, with aliens. I have been following your work of his life, but this is the first time I see this mentioned.
I suspect he never claimed to talk to aliens.