Under-appreciated fact: today’s Nobel is, in large part, given for formally introducing class struggle into mainstream theory and empirics of economic growth and political development.
Their models of democratization and much of their historical analysis is effectively an argument that in some places, historical circum... See more
Chris Blattmanx.comUnder-appreciated fact: today’s Nobel is, in large part, given for formally introducing class struggle into mainstream theory and empirics of economic growth and political development. Their models of democratization and much of their historical analysis is effectively an argument that in some places, historical circumstances drove bargaining power into the hands of merchants and other non elites, and this sometimes created virtuous cycles of democratization and development.
The fearful and fearsome reaction against growing inequality, social dislocation and loss of common identity in the midst of today’s vast wealth creation, unprecedented mobility and ubiquitous connectivity is a mutiny, really, against globalization so audacious and technological change so rapid that it can barely be absorbed by our incremental natu... See more
Nathan Gardels • The Perils Of Smashing The Past
Some might say that it’s not the job of A.I. to oppose capitalism. That may be true, but it’s not the job of A.I. to strengthen capitalism, either. Yet that is what it currently does. If we cannot come up with ways for A.I. to reduce the concentration of wealth, then I’d say it’s hard to argue that A.I. is a neutral technology, let alone a benefici
... See moreTed Chiang • Will A.I. Become the New McKinsey? | The New Yorker
Yet nearly 250 years after Smith wrote The Wealth of Nations, the publication most committed to defending his legacy was now uncertain whether one of the central premises of his thinking would endure for much longer. Such doubt resides at the very heart of what the Third Disruption means. If capital can become labour – if tools produced by humans c
... See moreAaron Bastani • Fully Automated Luxury Communism
