Ideal Money and Asymptotically Ideal Money

John Nash

https://web.math.princeton.edu/jfnj/texts_and_graphics/Main.Content/IDEAL_MONEY.../

Campus_for_Finance_o..>. 2010-02-07

IMyAIM.new.media.sel..>.

Follow the link above, then “folder in,” and the “IMyAIM.new.media.sel..>.” will download the John Nash PowerPoint ppt. The Powerpoint downloads on my laptop, but not my smartphone. Please note the dates on the folders. Is this a coincidence, or are they one more piece of the John Nash mosaic? Go to Slide12 and Slide13 and you will find the following:

…Or the question can be asked: "How do 'good money' and 'bad money' differ, if at all, for the valuable function of facilitating utility transfer?"   But if we consider contracts having a relatively long time axis then the difference can be seen clearly.
Consider a society where the money in use is subject to a rapid and unpredictable rate of inflation so that money worth 100 now might be worth from 50 to 10 by a year from now. Who would want to lend money for the term of a year?
In this context we can see how the "quality" of a money standard can strongly influence areas of the economy involving financing with longer-term credits.
And also, if we view money as of importance in connection with transfers of utility, we can see that money itself is a sort of "utility", using the word in another sense, comparable to supplies of water, electric energy or telecom-munications. And then, if we think about it, we can consider the quality of money as comparable to the quality of some "public utility" like the supply of electric energy or of water.