To build the Death Star, we’ll need this space elevator

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Last year, I wrote about why we should make massive-scale space projects like Star Wars’ Death Star a serious long-term goal for humanity. I wasn’t joking.

OK, I was kind of joking — I chose the Death Star as my example because it was the biggest and most absurd-sounding space technology project that I thought readers would generally be aware of. But I could just as easily have chosen a Dyson sphere, or a ringworld, or a topopolis, or a faster-than-light spacecraft. Whether the project resulted in an energy source in space or a planet-destroying battle station didn’t really matter for the purposes of my argument: The idea was that by reaching for the stars we could employ hundreds of thousands (millions?) of people during economic slumps and we’d accumulate a huge number of helpful technologies for use on Earth.

The good news is that we don’t have to wait for super laser or tractor beam technology before we begin work. The first steps should be comparatively small R&D projects, such as sending a manned mission to Mars or building a permanent base on the Moon, which are well within reach. Or, as a new report from the International Academy of Astronautics (IAA) shows, we could begin by building a space elevator.

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What does the Big Mac Index really measure?

The Economist is out with the latest Big Mac Index measurement. The Big Mac Index — which compares the price of the famous McDonald’s hamburger in various countries around the world — was started as a joke in 1986, and purports to act as a light-hearted proxy for measuring the purchasing power of currencies around the world. The Big Mac is a homogeneous good that is sold worldwide, which makes it a plausible candidate for such a comparison.

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Obama is right to be worried about income inequality — it’s gotten a lot worse under his watch

Americans today are very worried about income inequality.

A Gallup poll this month found that 67 percent of Americans are unhappy with the distribution of income and wealth in the U.S. The disappointment goes across party lines — 54 percent of Republicans are dissatisfied, as well as 70 percent of Independents and 75 percent of Democrats:

And a growing number of people are worried that they can no longer get ahead simply by working hard, suggesting that inequality is becoming more entrenched.

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Is China’s economy headed for a crash?

In his assessment of the global economy’s performance 2013, legendary financier George Soros warned of dangers in the Chinese economy:

The major uncertainty facing the world today is not the euro but the future direction of China. The growth model responsible for its rapid rise has run out of steam.

That model depended on financial repression of the household sector, in order to drive the growth of exports and investments. As a result, the household sector has now shrunk to 35 percent of GDP, and its forced savings are no longer sufficient to finance the current growth model. This has led to an exponential rise in the use of various forms of debt financing.

There are some eerie resemblances with the financial conditions that prevailed in the U.S. in the years preceding the crash of 2008. [Project Syndicate]

That, as William Pesek notes, is a rather ominous conclusion. So is China due a crash?

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Do Americans really prioritize security over freedom?

Americans are getting less hawkish about national security.

Jake Tapper of CNN raised eyebrows recently by claiming that “the American people, honestly, want security over freedom.”

That would seem to be a big departure from the ideals of, say, Benjamin Franklin, who wrote that“those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety.”

And is Tapper’s claim even true? Do the American people prioritize security over freedom? The most recent evidence doesn’t support Tapper’s claim.

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Is cash the most ‘efficient’ Christmas gift?

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Some economists think that Christmas gift-giving is a big waste of resources, and that cash is a much more efficient present.

When giving specific gifts, people often get things they don’t want, which is a waste of resources.An estimate by Wharton Professor Joel Waldfogel suggests that 20 percent of gift giving money is wasted this way.

Woldfogel argues that a person who spends $100 on himself or herself will presumably spend that money on something that actually nets them $100 worth of satisfaction. But when another person spends that amount on a gift they may end up getting a painting of a cat for a dog-lover, a sweater in the wrong size, or a coffee maker for a tea drinker, etc.

Woldfogel argues it would be much more efficient to just give cash, so that the recipient can spend something that nets $100 worth of satisfaction.

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Why are Democrats souring on big government?


According to a new Gallup poll, 72 percent of Americans say that big government is a greater threat to the U.S. in the future than big business or big labor, a record high in the half century that Gallup has been asking the question. The previous high for big government was 65 percent in 1999 and 2000:

And this isn’t just Fox News-watching Republicans who think that Obama is a Communist Muslim born in Kenya who is plotting to seize all privately-owned guns and declare martial law.

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