Quote from: piotr_n on March 02, 2017, 05:27:23 PM

I'm sure the central bakers have read loads of books on economics.

Perhaps you will have better chances teaching them how to make a better money?

Hear from the man:

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The script or plan for my talk linking the ideal money with the choices and actions of thrift or savings by persons or by economic agents was influenced by concerns that it would be wise not to speak too incautionsly of the Keynesians when the times are such that massive public opinions maybe supporting actions by which a state administration can act without going through the parliamentary processes to write new legislation.

   So in the rush of political campaigns and elections (for example in the USA) it is difficult to sell a national monetary policy which, if followed consistently on a long run level, would result in the specific nation state existing as if on a higher level of economic civilization.

   (For example, Sweden and Argentina might be usable, over a long time comparison, to represent comparable economic civilizations.)

   Therefore, I had arranged for 2012 to talk more cautiously in relation to whatever would impact with the Keynesians and with the political interest relating also to the scholarly factions allied with (or forming) the Keynesians.

   And this caution carries over naturally to 2013 also.

   ~public note from John Forbes Nashs university homepage

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The label Keynesian is convenient, but to be safe we should have a defined meaning for this as a party that can be criticized and contrasted with other parties.

So let us define Keynesian to be descriptive of a school of thought that originated at the time of the devaluations of the pound and the dollar in the early 30s of the 20th century. 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 economics welfare objectives with comparatively little regard for the long term reputation of the national currency~Ideal Money

You are asking me to do something Nash wouldn't dare.