Everyone, from President Obama down to a lowly moisture farmer on Tatooine can agree that planet-destroying weapons are bad news. Barring a few Imperial hold-outs, it’s clear that not only is the Death Star massively expensive, the best case for using a Death Star is war crimes on a galactic scale. So it should come as no surprise that not only are Death Stars themselves bad news, but the economics of building them might mean that, if the Empire collapses, the mortgage on the Death Star could send the entire galaxy into ruins as well.
One of the more perplexing facets of the upcoming Star Wars: The Force Awakens is how, after the Rebel Alliance successfully destroyed two Imperial Death Stars (and the Emperor himself), the titular war is still going on. Mild spoilers to follow.
As already spoiled, the Empire’s legacy seems to live on in The First Order, and what remains of the Rebel Alliance is now The Resistance. Unlike other visions of a post-Imperial galaxy for Star Wars, there is no glorious New Republic spreading freedom and democracy wherever it goes. So how could a victorious Rebellion succeed in battle but fail in governance?
Economics, it turns out. “It’s a Trap: Emperor Palpatine’s Poison Pill,” is a new, highly detailed analysis paper of the economic fallout of the Death Stars’ destruction published today on the open source server Arxiv. The work of financial engineering professor Zachary Feinstein of Washington University in St. Louis, it is a deep and thorough dive into the financial systems of a galaxy far, far away.
The true cost of the Death Star
The Death Star in life was a threat to individual planets, but according to Feinstein’s paper, in death it was a guarantee of financial destruction. First, Feinstein uses estimates of the steel in the Death Star to reach a lower bound for the cost of the raw material. Then, by comparison to an aircraft carrier, Feinstein derives the cost of the non-steel components of the Death Star. That tells us the rough, low estimate cost of the station itself, but even astronomical costs on earth are insignificant on the scale of Galactic Empire.
So to figure out the relative cost, Feinstein goes with the reasonable assumption that the Death Star took a Manhattan Project proportion of resources to make, and working backwards derives the relative size of the Imperial economy. The net result: if the first Death Star cost the Empire $193 Quintillion (in 2012 U.S. dollars), then the gross domestic product of the galactic economy was roughly $4.6 Sextillion a year.
The economic impact of destroying the two Death Stars
Feinstein isn’t directly concerned with the costs. Instead, he wants to understand the banking and financial mechanisms that sustained a project like that. Following logic stitched together from prequels and Wookiepedia, we get a galactic banking sector with assets that are 60 percent of the gross galactic domestic product.
Since these banks are likely heavily invested in the Empire itself and the Death Star specifically, the destruction of one Death Star by intergalactic terrorists and the collapse of the Empire following the destruction of the second, would devastate the galactic markets, and create a financial crisis on a truly massive scale.
A Galactic Bailout?
To avert this catastrophe, the Rebel Alliance would need to have not just the legitimacy of Imperial defeat, but tremendous reserves of hard cash to bail out the collapsing financial system. Feinstein concludes:
In this case study we found that the Rebel Alliance would need to prepare a bailout of at least 15%, and likely at least 20%, of GGP in order to mitigate the systemic risks and the sudden and catastrophic economic collapse. Without such funds at the ready, it likely the Galactic economy would enter an economic depression of astronomical proportions
Cruel as the Empire was, there’s some strong economic reasons for how they were able to stay in power. As for the Rebels — sadly, it seems they left their wallets on Alderaan.
3 Cybersecurity Concerns for Remote Employees
In the past eighteen months there has been a sudden and unexpected shift to remote working as a result of the COVID-19 pandemic.
In the past eighteen months there has been a sudden and unexpected shift to remote working as a result of the COVID-19 pandemic. More people than ever before are now doing their jobs from home, and many employers are happy to let this continue into the future as the benefits of remote working become apparent, and more companies realize that allowing employees to work from home is actually easier than they imagined it might be. However, one of the main concerns for working from home is cybersecurity, as there are often more risks involved compared to when employees work in the office. Here are some of the main things that you will need to consider if your company is making the switch to remote work.
Getting IT Support
There has never been a more important time for your business to make sure that there is professional IT support in place. While many small businesses might not have the budget for hiring in-house IT professionals, the truth is that this is why they are often one of the biggest cybercrime targets, and working from home has only made it easier for hackers to intercept traffic, access your network and steal your data. Working with an IT support company that has experience with remote working is a necessary step for many businesses that want to keep their data safe.
Securing Home Networks
For many companies that are introducing remote working, one of the main security risks is the employee’s home network. When employees are accessing secure work sites over their home Wi-Fi network, this could be putting data and other information at risk. It’s important to make sure that all employees understand the importance of securing their home network. In some cases, simply changing the Wi-Fi password can be a step in the right direction as many router models come with standard passwords that hackers can get access to. Using a VPN might be something that you ask all employees to do so that traffic is encrypted when they work from home.
Improve Device Security
Company devices such as laptops and smartphones may be at higher risk when they are being used by remote working employees. In this situation, it is always important to consider the risk of theft or physical damage to devices. Cloud-based storage for data is an important feature to consider as this will ensure that no matter what happens to a physical device, you can secure the data itself and make sure that it does not end up in the wrong hands. It is a wise idea to secure all devices with strong passwords and use tracking software so that they are easier to find in the event of theft or loss. Make sure that your insurance covers devices that are used for working at home.
In 2021, working from home has become the new normal, with many benefits for both businesses and employees. However, there are additional security risks to consider when allowing your employees to work remotely.
Five Tricks for a Successful Trucking Business
When it comes to working in the trucking industry, there are a whole host of different considerations to think about before getting started. With so many moving parts (literally!), it can be hard to run a successful business properly.
When it comes to working in the trucking industry, there are a whole host of different considerations to think about before getting started. With so many moving parts (literally!), it can be hard to run a successful business properly. Thankfully, if you are looking to learn more about success in the freight industry, then you have come to the right place. This guide has the complete overview when it comes to the top tricks involved in doing it correctly. Read on now for everything that you need to know.
1. Use the Best Load Boards
When finding jobs that your truck drivers can work on, it helps to use load boards that offer easy access and the lowest possible commission. It might just seem like a small point, but working with the right load board can actually be the difference between a successful business and an unsuccessful one. Find the best load board at https://www.shiply.com/us/load-board.
2. Charge the Right Rates
Knowing how much money you should be charging for any given job is a highly important part of the freight business process. One of the worst but common mistakes that you can make is charging too little and then finding that you do not have enough money to cover operating costs. The same point goes for charging too much and actually scaring any potential customer off. That’s why it’s worth having a deep think about the rates that are right for your business and hit that sweet spot.
3. Pay Your Truckers Fairly
Trucking jobs require long hours, time away from family and a high level of care and concentration. As a result, truckers deserve to be well-compensated for their work. If you don’t pay them fairly then you might run the risk of them unionizing, causing you many hours in lost work, or simply choosing to work for someone else. After all, there is a huge shortage of truckers across the country. While higher salaries will cause a drop in your operating income, this will likely be made up later on in increased productivity.
4. Use The Latest Technologies
Technology is infiltrating every aspect of the trucking business, meaning that it is your imperative as a business owner to embrace the different ways it can improve your business. From robotic process automation to automated trucks to AI algorithms to using blockchain ledgers to using smart technology to track where your truckers are at any given time, it’s worth looking around at the ways that technology can be used to make your business as successful as possible.
5. Use an Automatic Ordering System
The days of using pen and paper to track your orders is well and truly over. This is particularly true if you have a business that requires a lot of moving parts. In order to make sure you are able to see which orders are coming in and making sure that you have a good way to meet them, it is absolutely essential that you install a sophisticated automatic ordering system. Without it, you are likely to run into a lot of trouble.
Five Effective methods of following pro Traders
ETF trading is one of the riskiest professions. In every step of this job, you will find uncertainty. So, if you are an amateur retailer, you should follow the footsteps of the smart investors.
While observing the trading style of the professional traders, a trader will notice that the expert or experienced investors generally follow some strategies like money management, evaluating the risk to reward ratio, when to buy at support or sell at the resistance level, and so on. Hence, if you want to walk into their path, you should also follow their business techniques.
In this article, we aim to dive into professional traders’ footsteps so that you can explore them appropriately.
5 effective ways of following the footsteps of professional traders
1. Follow a trading plan
One of the best ways of following professional businessmen’sfootsteps is to manage a trading plan regularly. In this scheme, you should include various vital terms like entry or exit time, money management techniques. In addition to this, you have to focus on risk to reward ratio, buy at support, and sell at resistance. If you can apply these techniques, you surely shine or succeed in your Forex trading like the master investors or investors.
2. Determine an effective trading platform
As a beginner trader, you should search for a reliable, robust, and experienced ETF broker so that he or she can provide you an apt trading platform.
As a good trading platform or policy can play a vital contribution to make wise trade decisions and extend the trades, so the professional businessmen always choose a dependable trading platform.
If you can determine or select the right trading stage, you can judge or evaluate the risk to reward ratio correctly and make your money management properly.
Moreover, as an investor, you can perceive when to buy at the support level and sell at the resistance level.
3. Maintain your risk adeptly
The significance of risk management in Forex trading cannot be denied. It is the focal point of surviving a trade for a long time with success.
The experienced or skill traders in Hong Kong can manage their trade risks aptly by analyzing the market volatility, and they also can adjust with their procedure.
As a result, they can choose their trade size wisely and minimize the amount of loss. Hence, as a newcomer in a business, it is your prime responsibility to adhere to your trading goals for managing the risk factors efficiently.
4. Make a habit of learning continuously
Learning and studying are part and parcel of a trade. Therefore, to be a skillful Forex retailer, you need to have an insatiable thirst for knowledge. You know that the pro-businessman or the dealer tends to study or learn consistently.
They are always ready to learn the strategy of successful trading from their superior businessmen. They can confess their faults and take the necessary steps to overcome the problem.
Moreover, they keep close attention to the numerous influencers or factors of the economic markets, for instance, economics, political changes, world events, weather, and vice versa. Hence, as an amateur investor, you should follow or adopt the skillful retailers’ landmarks.
5. Challenge your trading loss in a constructive way
The most important footstep of pro-businessman is that they can easily assume that winning or losing in a business is an inevitable matter.
The difference between an amateur or unskilled dealer and a pro investor is never to take a lesson from their mistakes. Conversely, the later one has a mentality to learn from their errors.
The unskilled retailers live in a world of fantasy, and conversely, the professional traders live in a world of reality. Hence, you should be pragmatic like the pro-businessmen and challenge your trading obstacles or loss in a conducive way.
These are the effective five footsteps of professional traders. We hope, if you apply them in your trade, you will shine immensely.
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