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Ideal Money

Author

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  • John F. Nash Jr.

    (Princeton University)

Abstract

Money can be recognized as a technological development comparable to the wheel and of similar antiquity. Among the more recent developments in the technology that facilitates transfers of utility (in the sense of game theory) are systems like those of EZ Pass, by means of which vehicles traversing toll bridges or toll highways can pay their toll fees without stopping for the attention of human personnel manning the toll booths. In this lecture, I present remarks about the history of monetary systems and about issues of comparative quality or merit, along with a specific proposal about how a system or systems of “ideal money” might be established and employed. In addition, I criticize the Keynesian psychology in relation to the history of the influence of Keynesians on the practical characteristics of national currencies.

Suggested Citation

  • John F. Nash Jr., 2002. "Ideal Money," Southern Economic Journal, Southern Economic Association, vol. 69(1), pages 4-11, July.
  • Handle: RePEc:sej:ancoec:v:69:1:y:2002:p:4-11
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Carrino-Ravier-Cavallo: Unos breves comentarios y aclaraciones
      by Nicolas Cachanosky in Punto de Vista Economico on 2014-11-29 09:01:48

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    Cited by:

    1. Max Raskin & David Yermack, 2016. "Digital Currencies, Decentralized Ledgers, and the Future of Central Banking," NBER Working Papers 22238, National Bureau of Economic Research, Inc.

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