3min chapter

Odd Lots cover image

Paul Krugman on UFOs, AI and Room Temperature Superconductors

Odd Lots

CHAPTER

The Importance of Interplanetary Trade

Jeff Frankel: Interplanetary trade while of considerable empirical interest raises no major theoretical problems among the authors who have not pointed this out. He says if it takes an incredibly long time to ship something from here to the other planet, but the people on the ship don't perceive it as long as those of us on earth, right? Because time is slower. And I actually then went on and, you know, very fancy economic steer improving to say that that doesn't matter because the relevant opportunity cost is the time it takes on the planet. The paper had circulated kind of in some of his doc for a long time. But eventually the journal of economic inquiry contacted me and we said,

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