After about 150 years, China is again the largest economy in the world. The US has been the largest economy in the world since about the time of President Abraham Lincoln or maybe Rutherford Hayes (1880). 7 Score and 14 years ago Madisons GDP estimates go back to 1820. Madsison’s GDP numbers indicate that China …
Purchasing power parity (PPP) is a disarmingly simple theory that holds that the nominal exchange rate between two currencies should be equal to the ratio of aggregate price levels between the two countries, so that a unit of currency of one country will have the same purchasing power in a foreign country. The PPP theory …
The Economist has a new chart of US vs China Purchasing power parity GDP based upon the new 2011 comparison of pricing If you liked this article, please give it a quick review on ycombinator or StumbleUpon. Thanks Brian WangBrian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers …
The 2011 World Bank International Comparison Program are the most authoritative estimates of what money can buy in different countries. In 2005, the ICP thought China’s economy was 43 per cent of the US GDP. Because of the new methodology – and the fact that China’s economy has grown much more quickly – the research …
Project Icarus had a competition to create interstellar concept designs. The outline parameters were based on the project ToRs (Terms of Reference) for a mainly fusion spacecraft, on a 100 year mission with up to 150 tonnes payload (given the unavoidable size of your typical fusion spacecraft). The winner was the Ghost Ship. The Ghost …
Tyler Cowen makes the following points about Piketty’s Capitalism book. Overall, the main argument is based on two (false) claims. First, that capital returns will be high and non-diminishing, relative to other factors, and sufficiently certain to support the capital returns greater than world growth story as a dominant account of economic history looking forward. …
China is increasing natural gas and nuclear energy usage to reduce the use (or at least slow the use of coal) One shorter-term clean-energy target—increasing natural gas to 10% of the power mix by 2020, from about 5% last year—might be achievable. New pipeline supplies from Central Asia, Myanmar and possibly Russia, higher output from …
JET are planning a new DT [deuterium-tritium] campaign aimed at trying to get maximum performance and a new fusion yield record for MCF [Magnetic confinement fusion]. As a bit of context, DT runs are a pain in the neck to run – you have all kinds of hazmat and health physics red tape so doing …
Matt Ridley gives fives reasons the world is not running out of resources 1. More Productive Land Economists point out that we keep improving the productivity of each acre of land by applying fertilizer, mechanization, pesticides and irrigation. Further innovation is bound to shift the ceiling upward. Jesse Ausubel at Rockefeller University calculates that the …
. The Piketty and Saez data for the U.S. indicate that between 1979 and 2012, the bottom 90 percent’s income dropped by over $3,000. However, the official Census Bureau estimates indicate that the bottom 80 percent of households saw an increase of nearly $3,500. Median income—the income of the household in the middle of the …
The Carnival of Space 351 is up at Universe Today Brownspaceman.com – What are white holes? It’s just a theory for now and possibly all it will ever be however, why is that? Here we take a look at the definition of a white hole and what we understand about them. Nextbigfuture- After flying to …