It is easy for those of us in the West to overlook how important China has become to the world economy, and also the limits it is reaching. 3,753 more words
Tags » Financial Implications
Economists have given us a model of how prices and quantities of goods are supposed to interact.
Unfortunately, this model is woefully inadequate. It sort of works, until it doesn’t. 3,652 more words
World GDP in current US dollars is in some sense the simplest world GDP calculation that a person might make. It is calculated by taking the GDP for each year for each country in the local currency (for example, yen) and converting these GDP amounts to US dollars using the then-current relativity between the local currency and the US dollar. 4,421 more words
How should electricity from wind turbines and solar panels be evaluated? Should it be evaluated as if these devices are stand-alone devices? Or do these devices provide electricity that is of such low quality, because of its intermittency and other factors, that we should recognize the need for supporting services associated with actually putting the electricity on the grid? 3,976 more words