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2010-04-07
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.
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