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vgr's profile
Venkatesh Rao
Venkatesh Rao
Venkatesh Rao
@vgr

Tweets

Venkatesh Rao

@vgr

This is my conversational account. For my work follow @ribbonfarm, @breaking_smart, @artofgig. Tweets are 90% vacuous views, apathetically held. Mediocritopian.

Los Angeles, CA
venkateshrao.com
Joined August 2007

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    1. Taylor Pearson‏Verified account @TaylorPearsonMe 15 Feb 2018
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      2/ As I understand it, his basic argument is that there is a conflict of interest between the short-term domestic interests and long-term international objectives of a country currency being used as a world reserve currency

      2 replies 1 retweet 6 likes
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    2. Taylor Pearson‏Verified account @TaylorPearsonMe 15 Feb 2018
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      3/ I didn't fully grok what the precise conflict of interest between short-term domestic and long-term international objectives was in Nash's view. I assume from this text it's basically about gov's ability to inflate away wealth.pic.twitter.com/ziVGNremOT

      1 reply 1 retweet 5 likes
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    3. Taylor Pearson‏Verified account @TaylorPearsonMe 15 Feb 2018
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      4/ In the wake of the 2008 financial crisis of, the governor of the People's Bank of China explicitly named the reserve currency status of the US dollar as a contributing factor to global savings and investment imbalances that led to the crisis.

      2 replies 1 retweet 3 likes
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    4. Taylor Pearson‏Verified account @TaylorPearsonMe 15 Feb 2018
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      5/ Nash's idea was that we should have some form of ideal money which was not under a single political entity's control

      2 replies 2 retweets 4 likes
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    5. Taylor Pearson‏Verified account @TaylorPearsonMe 15 Feb 2018
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      6/ Gold was one option but unattractive for a few reasons:pic.twitter.com/DEeiw5jniS

      2 replies 1 retweet 2 likes
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    6. Taylor Pearson‏Verified account @TaylorPearsonMe 15 Feb 2018
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      7/ Nash came up with idea of ICPI - Industrial Consumption Price Index which would be made up of a basket of "optimally chosen commodities."

      1 reply 1 retweet 4 likes
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    7. Taylor Pearson‏Verified account @TaylorPearsonMe 15 Feb 2018
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      8/ The tricky bit was that the goods in the basket would have to be adjusted over time which reintroduces a political component that was the whole problem in the first place.

      2 replies 1 retweet 5 likes
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    8. Taylor Pearson‏Verified account @TaylorPearsonMe 15 Feb 2018
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      9/ More recently, Nash is getting a lot of play because Bitcoin has a lot of the properties of ideal money and "hyperbitcoinization" seems similar to Nashificationpic.twitter.com/Ne8zlmMUAl

      2 replies 2 retweets 12 likes
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    9. Taylor Pearson‏Verified account @TaylorPearsonMe 15 Feb 2018
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      10/ Another interesting observation that has me thinking is whether Keynsiasm is inherernly authorian high modernist?pic.twitter.com/TOZhzuaJlZ

      3 replies 2 retweets 11 likes
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    10. Taylor Pearson‏Verified account @TaylorPearsonMe 15 Feb 2018
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      11/ This is all from the Wikipedia page (https://en.wikipedia.org/wiki/Ideal_money …) and a lecture (http://personal.psu.edu/gjb6/nash/money.pdf …). Would love suggestions for further reading!

      7 replies 1 retweet 8 likes
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      Venkatesh Rao‏ @vgr 15 Feb 2018
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      Replying to @TaylorPearsonMe

      Mundell-Fleming seems relevant https://en.m.wikipedia.org/wiki/Mundell–Fleming_model …

      9:21 PM - 15 Feb 2018
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      • Luke Gibson Patrick Stanley
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