Why AI May Cause More Grief Than It’s Worth
Its fans predict a brave new world, but the economic reality might be significantly darker.
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What’s the point of economics? All that modeling and predicting. All that arguing about the role of the state, free markets, inflation and interest rate policy.
Sometimes it’s all too easy to get lost in the debate and forget the point. It’s all about finding the best way to allocate resources to incentivize economic growth: to create the best of all possible worlds for the maximum number of people. That’s it.