Related papers: Can we predict long-run economic growth?
I summarize the arguments that strongly suggest that our universe is the product of inflation. The mechanisms that lead to eternal inflation in both new and chaotic models are described. Although the infinity of pocket universes produced by…
The basic workings of inflationary models are summarized, along with the arguments that strongly suggest that our universe is the product of inflation. I describe the quantum origin of density perturbations, giving a heuristic derivation of…
Once carbon emission neutrality and other sustainability goals have been achieved, a widespread assumption is that economic growth at current rates can be sustained beyond the 21st century. However, even if we achieve these goals, this…
It is still common wisdom amongst economists, politicians and lay people that economic growth is a necessity of our social systems, at least to avoid distributional conflicts. This paper challenges such belief moving from a purely physical…
The subject of this study is inflation, a problem that has plagued America and the world over the last several decades. Despite a rich trove of scholarly studies and a wide range of tools developed to deal with inflation, we are nowhere…
Understanding the statistical dynamics of growth and inequality is a fundamental challenge to ecology and society. Recent analyses of wealth and income dynamics in contemporary societies show that economic inequality is very dynamic and…
Real GDP growth rate in developed countries is found to be a sum of two terms. The first term is the reciprocal value of the duration of the period of mean income growth with work experience, Tcr. The current value of Tcr in the USA is 40…
Politicians world-wide frequently promise a better life for their citizens. We find that the probability that a country will increase its {\it per capita} GDP ({\it gdp}) rank within a decade follows an exponential distribution with decay…
The basic workings of inflationary models are summarized, along with the arguments that strongly suggest that our universe is the product of inflation. It is argued that essentially all inflationary models lead to (future-)eternal…
We use a simple combinatorial model of technological change to explain the Industrial Revolution. The Industrial Revolution was a sudden large improvement in technology, which resulted in significant increases in human wealth and life…
Growth rate of real GDP per capita, GDPpc, is represented as a sum of two components, a monotonically decreasing economic trend and fluctuations related to population change. The economic trend is modelled by an inverse function of GDPpc…
In this paper we explore the relationship between the existence of eternal inflation and the initial conditions leading to inflation. We demonstrate that past and future completion of inflation is related, in that past-incomplete inflation…
Wealth inequality is an important matter for economic theory and policy. Ongoing debates have been discussing recent rise in wealth inequality in connection with recent development of active financial markets around the world. Existing…
I present a brief review of astro-ph/0406099, which argues that there is a limit on the number of efolds of inflation which are observable in a universe which undergoes an eternally accelerated expansion in the future. Such an acceleration…
Cosmological inflation, if it occurred, radically alters the picture of the `big bang', which would merely point to reheating at the end of inflation. Moreover, this reheating may be only local, so that inflation continues elsewhere and…
We estimate the relationship between GDP per capita growth and the growth rate of the national savings rate using a panel of 130 countries over the period 1960-2017. We find that GDP per capita growth increases (decreases) the growth rate…
Present treatments of eternal inflation regulate infinities by imposing a geometric cutoff. We point out that some matter systems reach the cutoff in finite time. This implies a nonzero probability for a novel type of catastrophe. According…
Global historical series spanning the last two centuries recently became available for primary energy consumption (PEC) and Gross Domestic Product (GDP). Based on a thorough analysis of the data, we propose a new, simple macroeconomic model…
A continuous variable changing between 0 and 1 is introduced to characterise contentment, or satisfaction with life, of an individual and an equation governing its evolution is postulated from analysis of several factors likely to affect…
Mounting evidences are being gathered suggesting that income and wealth distribution in various countries or societies follow a robust pattern, close to the Gibbs distribution of energy in an ideal gas in equilibrium, but also deviating…