An Interesting Biography, an Interesting Blog, and an Interesting Lecture on ‘Ideal’ Money

Basically, this:

“The basic idea is simple. Instead of having a single control unit sequencing the operations of the machine in series (except for certain subsidiary operations as certain input and output functions) as is now done, the idea is to decentralize control with several different control units capable of directing various simultaneous operations and interrelating them when appropriate.”

thewealthofchips

A certain saying I have been developing over the years goes something like this ‘Some things you cannot understand in parts’ (this saying will actually become more significant as time passes if this article has any truth to it at all). So please bare with the seemingly random or unrelated points. The material I’d like to bring to the community’s attention is quite dense, but I’ve tried to highlight the key points into one article. There is certainly more material (much more) to cover and present on this subject.

Who is John Nash?

The Man

Over 50 years ago John Forbes Nash Jr. (you might know him as the central character of the Hollywood movie/biography A Beautiful Mind played by Russell Crowe) wrote a dissertation on non-cooperate games which defined a solution later called the Nash equilibrium. The Nash equilibrium became a revolutionary concept for many subjects including war…

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