Posts Tagged ‘atomic clock’

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    Leap Seconds

    Jan 6, 12 • 204 Views • Businesses, Economic History, Innovation, International Trade and Finance, RegulationNo Comments

    The earth is supposed to rotate every 24 hours. Sometimes, though, it takes less time and sometimes it takes more. So, to be precise, we depend on atomic clocks. And therein lies the problem.  Increasingly, Solar Time (earth rotation time) deviates from

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    Time Matters

    Sep 14, 10 • 176 Views • Businesses, Economic History, Innovation, International Trade and Finance, Macroeconomic MeasurementNo Comments

    In a brief and wonderful 2003 article called “Clocks and the Wealth of Nations“, economic historian David Landes explained the importance of accurate timekeeping. China missed navigational opportunities because they did not develop the precise