John Nash and Glashütte Original

There is a wonderful interview with John Nash in the latest (Spring 2007) issue of the Glashütte Original magazine, Momentum. I love it because it covers both economics and watches. Here's a brief snippet from the interview (any errors here are mine).

You have publicly distanced yourself from Sylvia Nasar's biography of you. What do you think of the film of you life, A Beautiful Mind?
I've seen it a few times, and I would have liked it even more if it hadn't been about my life. Let me get one thing straight here: in the film, I am shown to criticize Adam Smith's theory about the invisible hand that rules the market. That is absolutely not the case. I value Smith very much. He was no mathematician, but a great thinker. On the other hand, I violently disagree with John Maynard Keynes, as opposed to what some people think.

What is your problem with Keynes? His theory that public spending boosts the economy seems very plausible.
His ideas are logically inconsistent and open the door to economic and political manipulation. The state can exert an enormous influence, but that does not mean it will be economically successful. Just think of GDR, or Karl Marx, who was also very influential. But as an economist? China and Cuba are still singing the praises of Marx. But I'm not so sure about Russia.

Recharge your wristwatch?
Yes, it's a solar-powered watch and has lots of functions, including an internal calendar. It's really very convenient. It's easy to recharge in summer. But in winter, when I'm in a coat, hat, sweater, it's a little more complicated. i have to roll up the sleeves of all my things and on overcast days, walk around with my left hand stretched skyward. Some people on campus think that's pretty weird and i can see them thinking well ... he's going schizoid again, (Nash in tears of laughter) when all I'm doing is recharging my wristwatch.

Are you interested in mechanical watches?
Very much. I find it fascinating that clockwork consisting of so many minute parts can function precisely, although it's purely mechanically based. Automatic watches are, in my view, a superior invention as you don't need to rewind them manually. But the wealth of possible combinations, like moon phases, calendars, or a second time zone, is also astonishing. I'm also fascinated by glockenspiels. Whenever I'm in Europe, I always try to organize my visit so that i can visit the most famous of them. I'm off to Munich tomorrow to see the glockenspiel in the town hall. I'm really looking forward to it.

Misc.:
John Nash at PBS
Glashütte Original
John Nash's Bio at Princeton
Nash at Nobelprize.org

Technorati Tags:
Nobel+Prize economics game+theory Glashütte+Original watches