Menzie Chinn provides two Posts here and here, which should be read. I disagree that the carry trade has much effect upon overall Trade, but I don't believe either has long-range value to the economies of Countries or World. Katy at Sybil’s Star has a good article on the value of Gold in technology (be sure to use the link to Mining Online). The use of Gold in air and water purification, though, may be a misuse (I think manufactured Isotope Plastics might do a far better job much cheaper).
Arnold Kling provides access to an article by Ronald Bailey, as well as a good Post himself. I disagree with the content of both pieces, though, because I do not believe the Earth can sustain such a level of economic activity. Guess Who I sound like? Any Propellent to get Energy from Solar Power of such magnitude will require generation of artificial Lightning strikes in the atmosphere, which will connect to the Earth only at electric grid terminals. Can this be done? Anything can be done if it is economically profitable to do, and within the schematic of economic accomplishments. Do you worry about my sanity?
Lightning Strikes may seem far-fetched, but some form of power cable raised by some form of balloon into the atmosphere can be attained; elevation equipment immune to advanced electrical charges. Spreader systems can be designed to distribute such massive Charges to usable form. Polarity attraction elements can be designed to draw Lightning energy to these power lines. Special energy converters can also be raised to the atmosphere to translate the Solar energy to electrical discharge energy. It is doable, and even without interference with natural Air traffic lanes. It could possibly, in addition, bring upon Us the Climate Cooling forestalling that over which Scientists waste so much Paper.
It still brings Us back to the Potential available for great Population growth. Can this planet subsist under the massive weight of such projected Populations living under conditions currently available to Americans? I think not. lgl
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