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Paul Krugman 1978: TheTheory of Interstellar Trade

jerryasher (151512) writes | more than 6 years ago

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jerryasher (151512) writes "Paul Krugman, writes at his New York Times blog about his early papers: Thirty years ago I was an oppressed assistant professor, caught up in the academic rat race. To cheer myself up I wrote — well, see for yourself. Joshua Gans of the University of Melbourne scanned a copy of the thing I wrote — back then academics did their work with typewriters, abacuses, and stone axes — and was good enough to send me a copy. Ladies and gentlemen, I give you The Theory of Interstellar Trade. 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 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."
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