Related papers: Can we predict long-run economic growth?
An expanding universe is not expected to have a static vacuum energy density. The so-called cosmological constant $\Lambda$ should be an approximation, certainly a good one for a fraction of a Hubble time, but it is most likely a temporary…
For Adam Smith, wealth was related to the division of labor. As people and firms specialize in different activities, economic efficiency increases, suggesting that development is associated with an increase in the number of individual…
This paper studies the income fluctuation problem with capital income risk (i.e., dispersion in the rate of return to wealth). Wealth returns and labor earnings are allowed to be serially correlated and mutually dependent. Rewards can be…
Probability distributions of money, income, and energy consumption per capita are studied for ensembles of economic agents. The principle of entropy maximization for partitioning of a limited resource gives exponential distributions for the…
The discovery of the string theory landscape has recently brought attention to the eternal nature of inflation. In contrast to the common belief that eternal inflation may be a generic feature of most inflationary models, in this note we…
Eternal inflation produces pocket universes with all physically allowed vacua and histories. Some of these pocket universes might contain a phase of slow-roll inflation, some might undergo cycles of cosmological evolution and some might…
An accelerated universe should naturally have a vacuum energy density determined by its dynamical curvature. The cosmological constant is most likely a temporary description of a dynamical variable that has been drastically evolving from…
Most models that try to explain economic growth indicate exponential growth paths. In recent years, however, a lively discussion has emerged considering the validity of this notion. In the empirical literature dealing with drivers of…
We introduce the Economic Productivity of Energy (EPE), GDP generated per unit of energy consumed, as a quantitative lens to assess the sustainability of the Artificial Intelligence (AI) revolution. Historical evidence shows that the first…
Power-law inflation has stood as a classical model in inflationary cosmology since the early 1980s, prized for its exact analytical solutions and ability to naturally resolve the Big Bang theory's horizon and flatness problems through…
Energy has always been the driving force in the technological and economic development of societies. The consumption of a significant amount of energy is required to provide basic living conditions of developed countries (heating,…
While there is no consensus about the history of time since the beginning, in this paper I will discuss some possibilities. We have a pretty clear picture of cosmic history from the electroweak phase transition through the time of…
Energy usage and GDP have been the subject of numerous studies over the past decades. It has been overlooked by previous studies that energy consumption correlates with economic growth in relation to GDP. This study uses threshold…
An outgrowth of the idea of inflation is advanced. In the inflation regime, the singularity condition is broken. Equations which govern inflation are invariant under time reversal, so that they describe deflation as well. Those two…
Our world is strongly driven by technological developments that continuously create new markets and shape individual taste and choice. The scale of dissemination of the most recent technological breakthroughs and the capability of creating…
We find a unique way of realizing inflation through cyclic phases in an universe with negative vacuum energy. According to the second law of thermodynamics entropy monotonically increases from cycle to cycle, typically by a constant factor.…
A short introduction to structure formation is given, followed by a discussion of the possible characteristics of the initial perturbations assuming a generic inflationary origin. Observational data related to large-scale structure and the…
We construct a two-stage inflationary model which can accommodate early inflation at a scale $\Lambda_1$ as well as a second stage of inflation at $\Lambda_2$ with a single scalar field $\phi$. We use a symmetric potential, valid in a…
We suggest that spontaneous eternal inflation can provide a natural explanation for the thermodynamic arrow of time, and discuss the underlying assumptions and consequences of this view. In the absence of inflation, we argue that systems…
In this paper, the annual growth rate of electricity consumption in China in the first 15 years of the 21st century is modeled using multiple linear regression. Historical data and trends of gross domestic product, fixed assets investment…