Webmaster rambling and mental notes
Paul Krugman's 1978 Theory of Interstellar Trade
3/12/2008

Jerryasher recommends Paul Krugman's blog at the NYTimes, where he introduces a paper he wrote, The Theory of Interstellar Trade, with tongue very much in cheek. Some packrat academician was kind enough to send him a scan, because "back then academics did their work with typewriters, abacuses, and stone axes." Abstract: This paper extends interplanetary trade theory to an interstellar setting. It is chiefly concerned with the following question: how should interest rates on goods in transit be computed when the goods travel at close to the speed of light? This is a problem because the time taken in transit will appear less to an viewer door-to-door detail man with the goods than to a stationary observer. A solution is derived from economic theory, and two useless but true theorems are proved... This paper, then, is a serious analysis of a ridiculous subject, which is of course the opposite of what is usual in economics."

Read more of this story at Slashdot.


More: - Brought to my attention by

Mark

Share |
(Posted in Nerd)
Share and enjoy
  • Digg
  • del.icio.us
  • blinkbits
  • BlinkList
  • BlogMemes
  • blogmarks
  • DZone
  • Fark
  • Furl
  • Netvouz
  • NewsVine
  • Reddit
  • Slashdot
  • Smarking
  • Spurl
  • StumbleUpon
  • Taggly
  • Technorati
  • YahooMyWeb
Post Comment

Notify me of followup comments via e-mail.

Entry 1 of 6209
Last Page | Next Page