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1010 andrew gelman stats-2011-11-14-“Free energy” and economic resources


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Introduction: By “free energy” I don’t mean perpetual motion machines, cars that run on water and get 200 mpg, or the latest cold-fusion hype. No, I’m referring to the term from physics. The free energy of a system is, roughly, the amount of energy that can be directly extracted from it. For example, a rock at room temperature is just full of energy—not just the energy locked in its nuclei, but basic thermal energy—but at room temperature you can’t extract any of it. To the physicists in the audience: Yes, I realize that free energy has a technical meaning in statistical mechanics and that my above definition is sloppy. Please bear with me. And, to the non-physicists: feel free to head to Wikipedia or a physics textbook for a more careful treatment. I was thinking about free energy the other day when hearing someone on the radio say something about China bailing out the E.U. I did a double-take. Huh? The E.U. is rich, China’s not so rich. How can a middle-income country bail out a


Summary: the most important sentenses genereted by tfidf model

sentIndex sentText sentNum sentScore

1 By “free energy” I don’t mean perpetual motion machines, cars that run on water and get 200 mpg, or the latest cold-fusion hype. [sent-1, score-0.227]

2 The free energy of a system is, roughly, the amount of energy that can be directly extracted from it. [sent-3, score-1.574]

3 For example, a rock at room temperature is just full of energy—not just the energy locked in its nuclei, but basic thermal energy—but at room temperature you can’t extract any of it. [sent-4, score-1.255]

4 To the physicists in the audience: Yes, I realize that free energy has a technical meaning in statistical mechanics and that my above definition is sloppy. [sent-5, score-0.949]

5 And, to the non-physicists: feel free to head to Wikipedia or a physics textbook for a more careful treatment. [sent-7, score-0.332]

6 I was thinking about free energy the other day when hearing someone on the radio say something about China bailing out the E. [sent-8, score-0.944]

7 How can a middle-income country bail out a bunch of rich countries? [sent-15, score-0.273]

8 Portugal, the poorest country in western Europe, has a GDP of $23,000. [sent-17, score-0.209]

9 Some countries in eastern Europe are poorer; the EU as a whole is a GDP of $30,000 per capita. [sent-18, score-0.152]

10 But they have more stuff than just about anybody else. [sent-22, score-0.064]

11 In theory, Europeans and Americans could create all sorts of free energy just by consuming less for awhile: no more fancy vacations, new cars, i-pods, smart bombs, jet fighters, etc. [sent-25, score-1.093]

12 (Galbraith was discussing the belief that a high GDP—even if it’s all being spent on civilian goods—is good for national defense because it represents economic capacity that could be transformed to military use if necessary. [sent-27, score-0.408]

13 It happened in WW2, but then the economy was starting with a lot of underuse. [sent-29, score-0.082]

14 If anything, one could argue that a depression is good for military capacity in that the unused resources can be directly shifted. [sent-30, score-0.429]

15 ) So, China’s got that free energy—or at least some people thing they do. [sent-31, score-0.332]

16 The idea of “free energy” and economic resources seems simple enough but I don’t know what it’s called by economists. [sent-35, score-0.154]

17 I googled “free energy economics” and got things like this which really weren’t what I was looking for. [sent-36, score-0.607]


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