Austrian Revivalist on Nostr: An Artificial Intelligence, in its current form or even in its 'super' form that tech ...
An Artificial Intelligence, in its current form or even in its 'super' form that tech folks and nerds speak of, cannot own things.
When you don't own something, you can't do economic calculation on it.
Which means you can't take risks with it, value it, have preferences on how to use it or understand opportunity costs of using it for one thing rather than something else.
This is why an economy directed from the top by a government AI will eventually result in the same circumstances as Mao's China, Hitler's Germany, Stalin's Russia, Nehru and Indira's India, or Kim's North Korea: suffering, starvation and death.
Laissez-faire is the correct economic policy, no matter what 'the numbers and equations say'.
Apparently the intellectuals in the economic profession are are too dumb or arrogant to accept this.
When you don't own something, you can't do economic calculation on it.
Which means you can't take risks with it, value it, have preferences on how to use it or understand opportunity costs of using it for one thing rather than something else.
This is why an economy directed from the top by a government AI will eventually result in the same circumstances as Mao's China, Hitler's Germany, Stalin's Russia, Nehru and Indira's India, or Kim's North Korea: suffering, starvation and death.
Laissez-faire is the correct economic policy, no matter what 'the numbers and equations say'.
Apparently the intellectuals in the economic profession are are too dumb or arrogant to accept this.