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[FOR INTERNAL REVIEW] Seth Benzell - What Economists Get Wrong About AI (And What They Get Right)
There are three distinct communities doing economics of AI research, and they don't always agree. Seth Benzell sits at the intersection of all of them and has views about where each one goes wrong.
Topics covered:
The three factions of AI economics: digitization, macro labor, and growth
Why "directing technical change" toward pro-worker outcomes is probably less controllable than the optimists think
Diminishing returns to intelligence
Capital accumulation as an underrated story
Why human task data is a factor of production
Why priors in economics shift more from being weakly held than from…
The skinny
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