The Solow model has its uses, but it fails when it comes to major changes
stemming from AI. Consider instead an economy with (at least) two factors
of p...
Sunday, February 8, 2009
Catch up on your wonky "good for you" reading.
Once you get past the poser title Our Epistemological Depression aint a bad read but I'd argue that pseudo-objectivity attends essentially all economic activity. Perceived value, buying and selling, its all essentially a form of risk management at the end of the day is it not? The extent to which I'm willing or unwilling to buy something is a reflection of how I regard my future prospects just as it is with a seller setting prices. The problem however is all the fancy and rigorous long term projections notwithstanding the last time I checked we still see through a glass darkly. Which we continually fool ourselves into forgetting.
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