Accounting book value is meant to measure the potential assets available to investors in the event of liquidation, and that's simply not
a very useful measurement for most equity investors.
1950s: Research on military applications of radar and infrared radiation promotes advances in radiative transfer theory and
measurements = > Radiation math — Studies conducted largely for military applications give accurate values of infrared absorption by gases = > CO2 greenhouse — Nuclear physicists and chemists develop Carbon - 14 analysis,
useful for dating ancient climate changes = > Carbon dates, for detecting carbon from fossil fuels in the atmosphere, and for measuring the rate of ocean turnover = > CO2 greenhouse — Development of digital computers affects many fields including the calculation of radiation transfer in the atmosphere = > Radiation math, and makes it possible to model weather processes = > Models (GCMs)-- Geological studies of polar wandering help provoke Ewing - Donn model of ice ages = > Simple models — Improvements in infrared instrumentation (mainly for industrial processes) allow
very precise
measurements of atmospheric CO2 = > CO2 greenhouse.