The Theory of Interstellar Trade

“The Theory of Interstellar Trade” by Nobel Prize winner Paul Krugman is an interesting paper from 1978 on the basic economics of trading between two stars without traveling faster than light. The author describes a situation where Earth might trade with a planet called Trantor. (Asimov fans will get the reference).
His conclusion is that it takes hundreds of years to move products from one planet to the other, so trade looks like a long term bond to the trading partners and that the interest rates will equalize between the two.

http://fermatslibrary.com/s/the-theory-of-interstellar-trade

I have written an unsold story called “The Long Run” about interstellar trading without faster than light travel. I wonder what happened to it?

More about Krugman: http://www.newyorker.com/magazine/2010/03/01/the-deflationist (I love this!)

 

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I cleaned up my tab for Sonny Boy's Help Me and made it into a short book. There's a Kindle version for 99 cents, and if you buy the paperback you get the Kindle free.

Playing "Help-Me" In the Style of Sonny Boy Williamson II: A step by step, note for note analysis of some of Sonny Boy's Signature Riffs

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I started reading Science Fiction in the 1950s. I started Writing SF in the 1960s. Then, I had a life. Now I am retired, raising chickens and keeping bees. I am still an avid reader and I have sold about 70 stories in the last 20 years.
I have been collecting information about writing Science Fiction for many years now. Social media has replaced the Blog and large dedicated websites, so the pages here are mostly static. I update them from time to time.

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