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2022 | OriginalPaper | Buchkapitel

5. Quantifying Space Impact

verfasst von : Armen V. Papazian

Erschienen in: The Space Value of Money

Verlag: Palgrave Macmillan UK

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[O]ne may say that the human ability to understand may be in a certain sense unlimited. But the existing scientific concepts cover always only a very limited part of reality, and the other part that has not yet been understood is infinite. Whenever we proceed from the known into the unknown we may hope to understand, but we may have to learn at the same time a new meaning of the word ‘understanding’.

Werner Heisenberg, Physics and Philosophy: The Revolution in Modern Science, 1958

I see Earth! It is so beautiful.

Yuri Gagarin, Vostok 1, 1961

…

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Vorheriges Kapitel The Missing Principle: Space Value of Money

Nächstes Kapitel Integrating Impact into Value

In such cases, Porter’s (1985) value chain model could be used to track the activities being invested in.

Note that space layers are being used to define aspects of space, not dimensions, like length, height, depth, time, and others discussed in physics and string theory (Greene, 2004).

For a fascinating account of the mining possibilities and challenges outside of our planet see Lewis (2011, 1996) and Goswami and Garretson (2020).

Naturally, the value of the coefficient is assigned according to the investor’s assessment of conditions and timelines. In some situations, manufacturing defence technology can be considered a positive value added and in the current stage of the transition, existing fossil fuel investments cannot be immediately discounted to zero until alternative infrastructures and technologies have been put in place. Thus, the value of the coefficient of transition should be a matter of degrees given conditions and timelines.

I discuss central bank and commercial bank new money creation in detail in chapter eight.

We could also consider the scenario where the initial investment is a foreign investment implying direct capital inflow from the start, thus the entire investment would be new money.

We use the actual money multiplier as observed in t-1, as a descriptive measure. Recent studies have argued about the irrelevance of the money multiplier for central bank policy transmission, also clarifying the relationship between the money multiplier and bank credit policy. Thus, this is only used as an after the fact observation, not a policy tool (Ihrig et al., 2021; McLeay et al., 2014).

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Titel: Quantifying Space Impact
verfasst von: Armen V. Papazian
Verlag: Palgrave Macmillan UK
Buch: The Space Value of Money
Print ISBN: 978-1-137-59487-7

Electronic ISBN: 978-1-137-59489-1

Copyright-Jahr: 2022
DOI: https://doi.org/10.1057/978-1-137-59489-1_5