Computational (Agent-Based) Models
Currency Issuing Nation
Professor Marcus Nadler of New York University, who was an Austrian refugee, taught a night course on financial markets, a big lecture course with almost two hundred students. (Charles) Simon enrolled. He got Rudolf Smutny to go with him, and then Billy Salomon, for a few weeks. "We wanted to know," Simon recalled, "why when Uncle Sam borrowed so much money [over time] his credit rating didn't decline. Why did rates go down [over time] rather than up?
Nadler explained that the more the government borrowed, the more money there was. This was stunning to those of us who had no background. Nadler's great ability to teach inspired those of us who had never gone to college. Smutny had no education and didn't really want an education; he went because he wanted to know why I idolized Nadler. [...] I was very privileged to have that time with the old man." (Charles Simon, circa 1950s)