Transcript Hussey, Conleth-Aspen

The Liar Paradox:
Looking at Our World through
Bertrand Russell’s Mathematical Eyes
Conleth D. Hussey BA, BAI, PhD, ScD.
Professor of Lightwave Technology
Head, Civil Engineering & Materials Science
University Of Limerick
Ireland
Introduction
Frege’s and Russell’s Dilemma
and its
Resolution in Mathematics
2
S: This statement is false!
3
Money Creation: Doing the
Numbers!
4
Textbook definition: Money
• A Store of Wealth
A Number
• A Medium of Exchange
A Number
• A Unit of Account
A Number
5
Book Entry Bank Money
Ex-nihilo Double-Entry
Bank
Liabilities Assets
1,000
1,000
Units of Account
Adam Smith’s “Empty Vehicle”
6
The Origin of Money
and Number: The Talisman
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name
Uncounted
0
=
longhand
Nothingness
{}
shorthand
Indeterminacy
1
=
{{ }}
=
{0}
2
=
{{ }, {{ }}}
=
{0, 1}
3
.
n
=
=
.
=
{0, 1, 2}
.
= {0, 1, 2… n-1}
8
Successor of p
S (p) = {elements of p, p},
E.g. S (2) = {elements of 2, 2} = {0, 1, 2} = 3
9
Definition: Number
A number (N) is the conjoint given-ness of its matter M (N), and
a part of that matter called its form F (N).
N = [M (N), F (N)]
[matter, form]
[matter = form + residue]
The negative of that number (-N) is the conjoint given-ness of
its matter M (N), and the part called its residue R (N).
– N = [M (N), R (N)] [matter, residue]
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Fiduciary Money
and its Betrayal
11
James Tobin
Nobel Prize
Economics 1981
The community's wealth now has two components:
the real goods accumulated through past real
investment and fiduciary or paper "goods"
manufactured by the government from thin air. Of
course, the nonhuman wealth of such a nation "really"
consists only of its tangible capital. But, as viewed by
the inhabitants of the nation individually, wealth
exceeds the tangible capital stock by the size of what
we might term the fiduciary issue. This is an illusion…
12
True Money
and the Immortal Stock
Paradox
13
Wages Bill
Bank
10,000 10,000
Unit of
Account
Firm
10,000
Bread
Units of Account
Workers
Bread
10,000
True
Money
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15
Expulsion of the Money Changers from the Temple
16
17
2500 BCE
Ethic of Reciprocity: The Golden Rule
Buddhism
"Treat not others in ways that you yourself would find hurtful." Udana-Varga 5.18
Christianity
"All things whatsoever ye would that men should do to you, do ye even so to them."
Matthew 7:1
Confucianism
"Do not unto others that you would not have them do unto you." Analects 12:2
Hinduism
“Do naught unto others which would cause you pain if done to you." Mahabharata 5:1517
Islam
"None of you [truly] believes until he wishes for his brother what he wishes for himself."
Number 13 of Imam "Al-Nawawi's Forty Hadiths."
19
The Mortgage Grip-ofDeath and the Limitless
Money Paradox
20
Mortgage
Bank
200,000
Unit of
Account
Buyer
200,000 House
plus interest
200,000
Units of Account
Seller
House
200,000
Unit of
Account:
Acts Like
True Money
21
Tally Stick Money:
The Historical Example of
True Money
22
Henry I
1100 AD
23
This collection of 13th-century Exchequer "stocks"
is stored at the National Archives in London.
24
“A laborer could provide all the necessities for his family
for a year by working 14 weeks. The rest of the time,
some men worked for themselves; some studied; some
fished. Some helped to build the cathedrals.”
J.E.T. Rogers, MP,
Prof. of Political Economy, Oxford, 1884
25
From Parliamentary Democracy
to
“Capitalo-Parliamentarianism”
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Early Chronology of Modern Banking
1609
Incorporation of the Bank of Amsterdam
1637
Tulip-mania
1694
Incorporation of the Bank of England
1720
The South Sea Bubble
1724
Order to discontinue use of tally sticks
1826
End of legal tender status of tally sticks
1834
Burning of Parliament
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Stand Up and Be Counted!
29
“So long as all the increased wealth
which modern progress brings goes
but to build up great fortunes, to
increase luxury and make sharper the
contrast between the House of Have
and the House of Want, progress is not
real and cannot be permanent.“
1879
Thank You !
31