The Brilliant Economist John Forbes Nash Said A More Stable Global Currency Is Needed To Avoid Other Financial Crises | Exploring Markets

The Brilliant Economist John Forbes Nash Said A More Stable Global Currency Is Needed To Avoid Other Financial Crises

"More than 200 members of the Fordham community converged upon the Flom Auditorium on Oct. 14, 2008 to hear John Forbes Nash Jr., Ph.D., winner of the 1994 Nobel Memorial Prize in Economic Sciences, talk about solutions to the downturn in the national and global economy."

“A fixed-rate 30-year mortgage would be reasonable under the gold standard. Now, there are variable rates, and adjustable rates, and convertible rates, and it is very complicated. Especially for homeowners to figure out what they are getting into. In fact, nobody really knows the depth of the financial crisis. Having an internationally oriented money standard would promote better quality currencies and less inflation. Any such new international monetary system should be democratically determined, and cited the recent vote in Sweden not to abandon the Krona for the Euro."

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