I was interested in the implied scientist exchange rates. If an Euler is worth 10 Swiss Francs and a Rutherford is worth 100 New Zealand Dollars, and a Swiss Franc is $1.38 NZ, is a Rutherford really worth 7.23 Eulers? I hardly think so. Rutherford was great, but if we're having some fantasy league of most-important-scientists-and-mathematicians, I'd trade a half-dozen Rutherfords to get a single Euler. Euler is then here underpriced.
Fun Twitter comments on same, though note that I had the exchange rate wrong on Twitter first time round.
@EricCrampton I'm more sad that the Schrodinger note isn't both legal and illegal tender.I also liked this one:
— Daniel McAuliffe (@DanielTJMcA) June 24, 2013
@DanielTJMcA @EricCrampton Einstein's appropriate, though-if my (limited) knowledge of econ is right, its value is relative to velocityDefinition of high-powered money: it's what happens as the velocity of the Einstein note approaches c!
— Nate Gunby (@NRGunby) June 24, 2013
Isn't the esteem represented by recognition on a banknote related to the total value (or even number) of those notes in circulation? That is, the Swiss frequently see an Euler but we kiwis rarely run across a Rutherford.
ReplyDeleteif a Manitoba Canadian is worth twice the price of a $NZ Bernard Hick and an idiot Tony Alexander,then he says
ReplyDeleteby some meaningless derivative theory quantitative easing has he not devalued himself, and is not the end of Economists as we know them
Oh, that's a fun alternative. I like it.
ReplyDelete