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In the short run, knowing the gravitational constant to one more decimal digit of precision or placing even tighter limits on any deviation from Einstein's gravitational theory may seem like painfully nitpicking detail. Yet one must not lose sight of the "big picture." When researchers were measuring the properties of…
Finally, it’s easy to see how a shift in income from labor to capital would lead to a similar reduction in overall demand. Capitalists tend to save more of each marginal dollar than laborers. In the short run, a transfer from laborers to capitalists reduces total consumption, and thus total GDP. This phenomenon is…
This much is certain: The future of the planet wall not be a reprise of the past, a return to "a state of nature." The future will certainly be technological, increasingly globally homogeneous, and, in the short run at least, will embody the connectivity of the computer chip and the contrivances of genetic…
Phillip Dick was intrigued by devices that allowed him to examine the mechanisms by which life unfolds. I think he voted for free will in the short run (the span of intelligent life on Earth, say), evolution for the middle distance (things develop according to underlying principles) and predestination in the long run…