WHY I AM HERE.

A few months ago, Addi Schram and I were sitting at Pepe Verde in Chelsea discussing the state of the economy and its connection to Game Theory. The mechinations of the people responsible for the worldwide collapse can definitely be considered horrible and unethical, but certainly has its own diabolical logic. (I´m totally ignorant on such matters but follow them with interest; Paddy Hirsch of Marketplace is doing a great job explaining things.)

The same can be said, I argued, of what occurred in Iceland. Addi dismissed this, saying that the robber barons of Iceland were criminals. Everyone in Iceland, he said, was paying the price for their greed. While it´s true that what occurred was catastrophic, it follows a particularly extreme and inventive strategy, and as far as I know, was not actually illegal.
This, for me, is what´s so fascinating about it. I told him about a series I had been watching on BBC called The Trap, by Adam Curtis.


The most interesting concept I learned about is the central rule of game theory as posited by John Nash. You remember him, right? This is that people are only predictable inasfar as they are acting out of self- interest. This applies to individuals and crowds.

The aftermath of profiteering that Iceland is currently dealing with is precisely such a scenario: the core principle of the free market stretched and warped beyond its limits.
I think we are in a new age. Sounds corny, right? But no one can deny that the concept of economic predictability based on self- interest is kind of outdated at this point.

So I know it sounds far out, but I got involved in getting this monument built because I think it´s a physical manifestation of something beyond self interest, all the materials are donated, all the labor is volunteer, and we designers have worked night and day on it.