Monday, May 8, 2017

Interplanetary Trade - The Neo-Liberal Economic Ideal

First Fundamental Theorum of Interstellar Trade: When trade takes place between two planets in a common inertial frame, the interest costs on goods in transit should be calculated using time measured by clocks in the common frame, and not clocks in the frames of trading spacecraft.
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Second Fundamental Theorum of Interstellar Trade: If sentient beings may hold assets on two planets in the same inertial frame, competition will equalise the interest rates on the two planets.
-Paul Krugman, "The Theory of Interstellar Trade" (July 1978)

4 comments:

Jersey McJones said...

LOL! I think Krugman was a big Asimov fan like me when he was young!

JMJ

-FJ said...

Asimov visited my college when I was a freshman. Afterwards, I went to the library and read everything I could find by him...

Gert said...

I'm back (after a short hiatus).

Great video, BTW...

Thersites said...

I've missed you blog! :)