The Economic Case Against Time Travel: Using Science Fiction Ideas to Emphasize Economic Processes in the Classroom

Abstract

I describe a though experiment in which students can consider the importance of the profit motive, the passage of time, and the dissemination of information in various markets by imagining that time travel is possible. The thought experiment allows students to conclude that because the economic conditions that would result from time travel do not exist outside of the theoretical market models, certain types of time travel cannot exist. But, more importantly, it provides a tool to help students think more deeply about the assumptions of the economic models presented. JEL Classifications: A1, A2, D8, I20