Posts tagged with: Game theory

My older son’s college psychology class was recently assigned the film A Beautiful Mind, about the Nobel Prize winning economist and schizophrenia sufferer John Nash. The assignment was to watch the film, dig into Nash’s biography, and report on how the film altered Nash’s story of mental breakdown and recovery.

78A_Beautiful_Mind

We watched the film together as a family (my second viewing), checked out the biography by Sylvia Nasar from a local library, and generally geeked out on Nash and game theory at the family dinner table over the next few days.

An additional motivation for the interest was that my mom’s engineer brother, my Uncle Milton, was a classmate of Nash’s at Carnegie Tech in the 1940s, with the two reconnecting at their 50th college reunion. In our digging into the Nash’s biography, we learned something of particular relevance to Acton Institute friends and followers, something I probably should have known already but didn’t: Nash’s decisive contribution to game theory likely has Austrian economics in its blood line. (more…)

“‘What’s stopping Warren Buffett from paying more taxes?’ is a red herring,” says economist Bryan Caplan. ” The fundamental question is: ‘Why is government’s share of the voluntary donations market so damn small?’”
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