pennies, page-16

Swap,

Lots and lots of theorising and a series of individual "agonies in the garden".

Clarity is the big issue here.

Just on game theory. John Forbes Nash had it down pat. For those that don't immediately make the connection, The best Australian actor ever to come out of New Zealand (Russell Crowe) played John Forbes Nash in "A Beautiful Mind".

First I'd like to say, the real Nash is actually an exemplary Mathematician and would therefore (unlike Russell Crowe) be accomplished at arithmetic. Again if you don't know Crowe made a really bad gaff on a talk show saying the USA should give each of it's citizens a million bucks in lieu of the bailout package and that this would only cost $300 billion or million. Either way what an idiot. Try $300 trillion.....sorry to digress.....

Anyway in the movie Nash and the fellas are in a bar eyeing out the hot chick. Nash eventually posits that Adam Smith is wrong about game theory and the optimal result is to co-operate not compete. That way all the fellas will (probably) get a girl, maybe not the girl but a girl nonetheless.

The "Prisoner's Dilemma" is also a good example. Co-operation is the best outcome....and previous non-co-operation should be punished.

Co-operation is the best result for the banks and Centro.