[LEAPSECS] The economics of interstellar trade

Rob Seaman seaman at noao.edu
Tue Mar 11 22:40:42 EDT 2008


The abstract:

This paper extends interplanetary trade theory to an interstellar
setting. It is chiefly concerned with the following question: how
should interest charges 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 observer travelling [sic]
with the goods than to a stationary observer. A solution is derived
from economic theory, and two useless but true theorems are proved.

The quote (draw your own conclusions about how this applies to leap
seconds):

"This paper, then, is a serious analysis of a ridiculous subject,
which is of course the opposite of what is usual in economics."

The paper:

http://www.princeton.edu/~pkrugman/interstellar.pdf

Some context:

http://www.salon.com/tech/htww/?last_story=/tech/htww/2008/03/11/paul_krugman_in_outer_space

Figure II takes Edward Tufte's admonition to minimize non-data ink to
its logical conclusion.



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