NBER conference on Artificial Intelligence

Here is the program, here are the videos, many luminaries were present.  My role was to comment on Korinek and Stiglitz.

Joshua Gans has set up a website to curate research into this topic.


I like when a bunch of people with no actual practical knowledge of a topic but who are REALLY prone to Boosterism get together and discuss the topic.

Summers, Stiglitz, Autor, Sachs and Cowen as speakers on A.I. at the same conference... Apparently Krugman was busy.

Make the pain stop.

They will bring the crowds, and speak very well, but I'm more interested in the 30/yo no-name opinions of prodigious computational economists.

Lucky not to have Krug there, would advocate printing as much AI as possible to "inflate out" of the next dirty little "crisis" they are going to arrange.

'curate research' - well, that says just about everything one needs to know, doesn't it?

Direct or archiving research seems so old fashioned these days, while clearly fitting into the current fashion to pretend that curation, at least outside of museums, actually provides something of value.

Well said. The sheer pretentiousness of it struck me too.

I like when a bundle of individuals with no real down to earth learning of a point yet who are REALLY inclined to Boosterism get together and talk about the theme.

Why the disrespect for the contribution of economists to the subject of AI? Those who produce technology don't usually consider the implications of it, negative as well as positive. Better to consider the implications before rather than after the damage has been done. The point of having a cross-section of economists (Stiglitz on the one hand and Cowen on the other) is to have differing views as to the best way to avoid (mitigate) the damage (e.g., regulation vs. the market). I will once again link to Tim Taylor's little summary of imperfect information: http://conversableeconomist.blogspot.com/2017/09/imperfect-information-is-it-for-or.html

Probably because they do not know what they are talking about. They are economists. What do they know about what AI can or cannot do? What it does or does not promise? They are eunuchs debating the finer points of sexual technique.

Common understanding of Minimum Wage Theory will yet be achieved in my lifetime!!

Rayward, I agree with you. Shapiro and Varian (1998) were not computer scientists, nor was Tirole, yet each of them predicted the effects of the internet and platform dynamics. Who would you rather trust: a computer scientist who doesn't understand micro or game theory or BE make predictions of the effect of a change of technology on business or an economist who has a working knowledge of the technology and who has a platform of knowledge to work from from previous disruptions.

Let's stop using the term "AI".


I like Kasperov's IA: Intelligence augmentation. Systems that help humans be smarter, like google or siri. Not 'intelligent' in their own right, but good enough to make their users effectively smarter.

My theory says the AI will fire all the robots.

The singularity will figure that there are plenty of humans, humans all love the singularity and do what they are told. Humans are cheap, they eat dirt. Robots a bunch of ignorant if-then statements.

A marketplace of methodologies - Let methodologies compete at moving science toward being less wrong. #MethodologicalPluralism #PluralNouns #Feyerabend

Economics of Artificial Intelligence

They missed the big thing. Our personal spending history is auto traded in secure, fair trading pits; no humans anywhere,. From the cash cardin our hand, to our portfolio charts, no humans involved. Our entire economy governed by how often and how much to we tap our cash cards while we watch the red green indicator on the card.

From the card apps to portfolio charts, all encrypted, all anonymous, all under control of trading bots we deploy completely unobservable by human except we always get a fair look at the trade books everywhere.

They missed it, but the technology is actually being deployed.

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