Friday, April 24, 2009

Late night reading material

Enjoyable quotes from an article discussing interstellar trade and interest rates with travel approaching the speed of light.

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

"The second feature of interstellar transactions cannot be so easily dealt with (physicists are not as tolerant as economists of the practice of assuming difficulties away)."

"Readers may, however, wish to use general relativity to extend the analysis to trade between planets with large relative motion. This extension is left as an exercise for interested readers because the author does not understand the theory of general relativity, and therefore cannot do it himself."

"This proof has been for a special case; but the proposition is in fact relatively general. (The reader must, of course, be careful not to confuse relative generality with general relativity)."

Interesting spring board to think about arbitrage, communication limitations, and interstellar trade.

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