We have seen light from a galaxy that was emitted 13.3 billion years ago, a mere 400 million years after the big bang. Astronomers using the Hubble Space Telescope have discovered colossal so-called super spiral galaxies, and monster stars that “make the sun look like a night light.”
Interest in science is rising. We have scientists who are pop-culture rock stars, like Neil Degrasse Tyson and Bill Nye, numerous dedicated science channels on TV (Science, Discovery, National Geographic) and too many publications to count.
Astrophysics is just one small aspect of the fast-growing STEM sector -- science, technology, engineering and mathematics. It is also the reason why I am not in the bearish camp with those who fear that scientific breakthroughs and fast economic growth are behind us. The technology underlying so many areas is growing too rapidly to write off the long-term future of the world economy. One can't be pessimistic while seeing the pace of advancement in areas such as genomics, robotics, alternative energy, nanotechnology, oncology, materials science, wearables, 3D printing, near-field communication -- not to mention software, big data, communications and semiconductors.
The future isn’t coming, it is already here.
Barry Ritholtz started the Big Picture blog in 2003 and is the founder of Ritholtz Wealth Management, an asset management and financial planning firm.