In honor of Paul Krugman receiving the 2008 Nobel Prize in Economics, I thought it appropriate to point out this underappreciated contribution of his. Regardless of how you might feel about the ideological leanings of Krugman, this 1978 paper of his, "The Theory of Interstellar Trade," can only increase your respect for him (I'm serious). The paper is rich with sarcasm, parody, and inside jokes. On the title page, Krugman thanks the Committee to Re-elect William Proxmire who was a U.S. Senator (D-WI, 1957-1989) who felt that NASA was a wasteful expenditure of government funds. Krugman also cites an unwritten paper of his nine years in the future (1987). Here are some highlights.
"These complications make the theory of interstellar trade appear at first quite alien to our usual trade models; presumably it seems equally human to alien trade theorists."
"This paper, then, is a serious analysis of a ridiculous subject, which is of course the opposite of what is usual in economics."
The concluding paragraph is great as well. Thanks to Jason for bringing this paper to my attention.
"These complications make the theory of interstellar trade appear at first quite alien to our usual trade models; presumably it seems equally human to alien trade theorists."
"This paper, then, is a serious analysis of a ridiculous subject, which is of course the opposite of what is usual in economics."
The concluding paragraph is great as well. Thanks to Jason for bringing this paper to my attention.
The link to the paper says, "NOT FOUND."
This has a Roswellian cover-up feel to it if you ask me (which no doubt is better than a Roswellian cover feel up).