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The Theory of Interstellar Trade (1978)

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Re: The Theory of Interstellar Trade (1978)

#21

Post by phreeza »

koheripbal wrote: post #14
messe wrote: post #2

Abstract: > This paper extends interplanetary trade to an interstellar setting. It is chiefly concerned with the following question: How should interest on goods in tranist 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 with the goods than to a stationary observer. A solution is derived from economic theo…

I'm trying to imagine a physical product that is worth transporting on an interstellar level, rather than locally manufactured. It seems to me that the only thing that would ever be exchanged between solar systems, would be information.

I've probably read too much sci-fi, but high-density computronium left behind by a fallen civilization might make it worthwhile?

Re: The Theory of Interstellar Trade (1978)

#22

Post by samizdis »

gravitas wrote: post #8
nabla9 wrote: post #5

The article was written in 1978 but it references paper: Krugman, P.,"Theory Capital and Travel Light-than-Faster", prosessed, Yale University, 1987 (The writer also received a Nobel for his contributions to the theory of international trade and economic geography).

Paul Krugman: https://en.wikipedia.org/wiki/Paul_Krugman

As a Brit who reads the NYT and knows Krugman mainly by his writing there, I found that Wiki piece enlightening and fascinating. I will make an effort to read him more widely. Thanks.

FWIW, I also enjoyed reading his latest NYT piece for its substance, observation and its humour:

https://www.nytimes.com/2020/12/28/opinion/reagan-economy-co...

Re: The Theory of Interstellar Trade (1978)

#23

Post by TeMPOraL »

koheripbal wrote: post #14
messe wrote: post #2

Abstract: > This paper extends interplanetary trade to an interstellar setting. It is chiefly concerned with the following question: How should interest on goods in tranist 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 with the goods than to a stationary observer. A solution is derived from economic theo…

I'm trying to imagine a physical product that is worth transporting on an interstellar level, rather than locally manufactured. It seems to me that the only thing that would ever be exchanged between solar systems, would be information.

Art. A good chunk of value of a work of art is in its provenance.

That said, I can't imagine a terrestrial economy - much less interstellar one - built on trade of paintings and sculptures.

Re: The Theory of Interstellar Trade (1978)

#25

Post by AlgorithmicTime »

SeanLuke wrote: post #19
koheripbal wrote: post #14

Earlier quoted context omitted.

I'm trying to imagine a physical product that is worth transporting on an interstellar level, rather than locally manufactured. It seems to me that the only thing that would ever be exchanged between solar systems, would be information.

Well, there's the spice.

The Spice must flow.

Re: The Theory of Interstellar Trade (1978)

#26

Post by b34r »

koheripbal wrote: post #14
messe wrote: post #2

Abstract: > This paper extends interplanetary trade to an interstellar setting. It is chiefly concerned with the following question: How should interest on goods in tranist 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 with the goods than to a stationary observer. A solution is derived from economic theo…

I'm trying to imagine a physical product that is worth transporting on an interstellar level, rather than locally manufactured. It seems to me that the only thing that would ever be exchanged between solar systems, would be information.

An exotic natural resource not present in the recipient’s local space.

Re: The Theory of Interstellar Trade (1978)

#27

Post by notthegov »

Oh great, maximizing alpha intergalactically. Time is money, space is time and the universe is infinite so why do I need to invest? The physics of heaven would invalidate everything you think is true.

Oh and I vote we change this to Cracker News since this place is full of stale minds and clueless coders who are experts at protocols and interfaces except when it comes to the ultimate device, iGirl.

Re: The Theory of Interstellar Trade (1978)

#28

Post by krapp »

koheripbal wrote: post #14
messe wrote: post #2

Abstract: > This paper extends interplanetary trade to an interstellar setting. It is chiefly concerned with the following question: How should interest on goods in tranist 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 with the goods than to a stationary observer. A solution is derived from economic theo…

I'm trying to imagine a physical product that is worth transporting on an interstellar level, rather than locally manufactured. It seems to me that the only thing that would ever be exchanged between solar systems, would be information.

Even exchanging information doesn't doesn't make much sense, given the time lag involved with light-speed limitations.

Another answer for the Fermi Paradox, maybe.

Re: The Theory of Interstellar Trade (1978)

#29

Post by kempbellt »

koheripbal wrote: post #14
messe wrote: post #2

Abstract: > This paper extends interplanetary trade to an interstellar setting. It is chiefly concerned with the following question: How should interest on goods in tranist 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 with the goods than to a stationary observer. A solution is derived from economic theo…

I'm trying to imagine a physical product that is worth transporting on an interstellar level, rather than locally manufactured. It seems to me that the only thing that would ever be exchanged between solar systems, would be information.

Only if there's some magical elemental material that exists in one place and not in another and just has to be shipped...

As someone's who has gotten into 3D printing lately (it's super cheap now...), I'm still wrapping my mind around all the things I can just make at home, vs having them fabricated elsewhere and going to pick them up or having them shipped to me.

> It seems to me that the only thing that would ever be exchanged between solar systems, would be information.

Maybe Thingiverse is onto something here?

Re: The Theory of Interstellar Trade (1978)

#30

Post by forgingahead »

koheripbal wrote: post #14
messe wrote: post #2

Abstract: > This paper extends interplanetary trade to an interstellar setting. It is chiefly concerned with the following question: How should interest on goods in tranist 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 with the goods than to a stationary observer. A solution is derived from economic theo…

I'm trying to imagine a physical product that is worth transporting on an interstellar level, rather than locally manufactured. It seems to me that the only thing that would ever be exchanged between solar systems, would be information.

Wait until we have Galactic Economics and other voodoo fields of study* , and beings start being convinced of "specialisation" on a cosmic scale.

*Not unlike it's current-day counterpart, Macroeconomics.

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