An interesting and detailed paper about economy of current AI "boom".
Makes sense to be skeptical about this, since it was not for lack of (human) intelligence
the economy didn't prosper more in the past... it was for not using, and miss-using, intelligence.
like solving useful problems that could not be solved before.
And that is exactly what techno-optimists are looking for.
And it is not hard to observe how many hard problems are not solved yet.
The question is: would solving them be worth all this hype and investment?
Nobody can know.
And that is exactly the reason for all this "FOMO" that surrounds AI investments...
The Simple Macroeconomics of AI.pdf
Nobel Laureate Busts the AI Hype - YouTube
Prize lecture: Daron Acemoglu, prize in economic sciences 2024 - YouTube
Are We Building AI for Progress or Power? — ft. Daron Acemoglu | Prof G Markets - YouTube
The 2024 Nobel Prize in Economics: The Full Story - YouTube
a Turkish-American economist of Armenian descent who has taught at the Massachusetts Institute of Technology, received the Nobel Prize in Economics in 2024
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