Game Theory vs Gandhian Theory
Definitely cheers to Obama for some hardspeaking to spolied Americans, otherwise it was difficult to get the Economic of America on rails by him.
However, many American strategiests have been relying on "Game theory" invented by Von Neumann & John Nash etc in not the fields of Market, Banks, Economy only but also designing their strategy on Terrorism, Afghhnistan, Pakistan & Iraq etc. on the basis of "Nash Equillibrium".
Neumann & Nash themselves said that the outcome of Game theory depend upon the "mutual interest" of Co-operative partners or "self- interest" in case of Non-coperative partners durinng any conflict. Nowehere, any Game Theorists have ever mentioned that outcome of applying Game theory on any Social contexts will be determined by the Truth.
However, John C Harsanyi advocated that Game theory is applicable in social contexts also. He also has been awarded with the Noble Prize in 1994 for his contributions & expanding the scope of Game theory. Award of Nobel prize to many in the area of Game Theory has particualrly provided lot of recognition to path breaking revolution to determinate what was considered "indeterminate" a few years ago. Making of "Beautiful Mind" on the life of John Nash also created lot of awareness & curiosity about this subject, although John Nash was basically a Mathematician, and incidentally got involved with Game Theory at Princeton.
Relying on Mathematics to analyse Social contexts is good but using Mathematics to pursue Greed can only lead to explosions or implosions. Recent Global Financial crisis has clearly exposed the "Greed Factor" in the underlying philosophies of not only Banks & Corporate entities, but also in the activities of finest research & academic Institutions of US.
For example, Game theory was mainly invented to pursue self-interest as claimed by the Inventors themselves. What is self-interest ....if it is not Greed in other words?
For an Individual or entity operating in competitive environemnt, the use of game theory may be OK. But in the context of Socio-political areas it is better if the use of Gandhian Theory is promoted instead of Game theory so that chaos caused by Theories based on inadeuete axioms or false premises is avoided.
Knowledge is not an always a means to pursue self-interest, this was unequivocably stated by Gandhi in his lifelong experimentation with truth.