How much is a planet worth?
Over at Boing Boing, Lee Billings has an interview with Greg Laughlin, an astrophysicist who recently came up with an equation for estimating the value of planets, a sort of Drake equation for cosmic economics.
This equation’s initial purpose, he wrote, was to put meaningful prices on the terrestrial exoplanets that Kepler was bound to discover. But he soon found it could be used equally well to place any planet-even our own-in a context that was simultaneously cosmic and commercial. In essence, you feed Laughlin’s equation some key parameters — a planet’s mass, its estimated temperature, and the age, type, and apparent brightness of its star — and out pops a number that should, Laughlin says, equate to cold, hard cash.
At the time, the exoplanet Gliese 581 c was thought to be the most Earth-like world known beyond our solar system. The equation said it was worth a measly $160. Mars fared better, priced at $14,000. And Earth? Our planet’s value emerged as nearly 5 quadrillion dollars. That’s about 100 times Earth’s yearly GDP, and perhaps, Laughlin thought, not a bad ballpark estimate for the total economic value of our world and the technological civilization it supports.
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