Nov 222012
 

“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 traveling with the goods than to a stationary observer. A solution is derived from economic theory and two useless but true theorems are proved.”

“Is space the Final Frontier of economics? Certainly this is only a first probe of the subject, but the possibilities are surely limitless. (In curved space-time, of course, this does not prevent the possibilities from being finite as well!). I have not even touched on the fascinating possibilities of interstellar finance, where spot and forward exchange markets will have to be supplemented by conditional present markets. Those of us working in this field are still a small band, but we know that the Force is with us.”

[www.princeton.edu]

Nov 222012
 

Unlike Mitt, I loathe Sesame Street. It bears primary responsibility for what the Canadian blogger Binky calls the de-monsterization of childhood – the idea that there are no evil monsters out there at the edges of the map, just shaggy creatures who look a little funny and can sometimes be a bit grouchy about it because people prejudge them until they learn to celebrate diversity and help Cranky the Friendly Monster go recycling. That is not unrelated to the infantilization of our society. Marinate three generations of Americans in that pabulum, and it’s no surprise you wind up with unprotected diplomats dragged to their deaths from their “safe house” in Benghazi. Or as J. Scott Gration, the president’s Special Envoy to Sudan, said in 2009, in the most explicit Sesamization of American foreign policy: “We’ve got to think about giving out cookies. Kids, countries – they react to gold stars, smiley faces, handshakes.” The butchers of Darfur aren’t blood-drenched machete-wielding genocidal killers but just Cookie Monsters whom we haven’t given enough cookies. I’m not saying there’s a direct line between Bert & Ernie and Barack & Hillary … well, actually, I am.