hey I just had a crazy idea, what if, as a society, we tried to make things better rather than constantly making everything incomprehensibly worse just spitballing here

Show Post

...assets, and so they'll seek out new categories of investment looking for higher rates of return. This inevitably leads to capital flowing into immature sectors with unproven profitability, which by their nature fail more often than not and lead to crashes.

Show Post

Marx said (correctly) that as a sector matures, the rate of return on investment in that sector goes down as a result of normal classical economic forces. His novel twist on tha is that as investors see declining rates of return on traditional assets, they're disincentivized to reinvest in those...

Show Post

The closest analog to the level of capital investment in AI is the railroad boom of the 1840's, which spawned entire schools of economic thought. The one that best describes the current moment is probably Marx' concept of overaccumulation of capital, which would imply that we're all fucked.

Show Post

Guys, he won.

Show Post