The importance of the internet

From my recent chat with Alex, mostly about fiscal policy:

TABARROK:To be clear, a 0.5% increase in the rate of productivity growth, that doesn’t seem like a lot, but that would be historically a bigger increase than we got from anything. A bigger increase than the internet. Sure, yes.

COWEN:It is the internet in a way, but yes.

TABARROK:It was founded on the internet, yes. The internet was the agar culturefor the growth of the AI.

COWEN:That’s why the internet’s important. We’re just beginning to realize this,right?

TABARROK:Exactly, yes.

COWEN:It’s why a lot of people can’t admit AI might be a good thing, because then they’d have to admit the internet was a good thing. They’re so committed to never saying that.

TABARROK:Is that why?

COWEN:That’s why, yes.Believe me. That’s why.

TABARROK:It is funny that I think historically, when we look back, I think you’re right, we’ll think about what was the internet. The growth culture was putting everything online, was for the AI. It wasn’t for us.