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ma𝕏poolDaron Acemoglu, Simon Johnson and James A. Robinson get Economics NobelEveryone has been sure that Acemoglu will get his Nobel for a long time. 10 years ago they said that he was too young to get it yet. It's usually worth at least reading the abstracts and skim his papers because they lay out and inspect the dynamics of the subject. Something that is then missing from the public discussion. Some examples:The simple macroeconomics of AI <a href="https://economics.mit.edu/sites/default/files/2024-10/The%20Simple%20Macroeconomics%20of%20AI.pdf" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://economics.mit.edu/sites/default/files/2024-10/The%20Simple%20Macroeconomics%20of%20AI.pdf</a>Capital and Wages <a href="https://economics.mit.edu/sites/default/files/2024-09/capital%20and%20wages.pdf" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://economics.mit.edu/sites/default/files/2024-09/capital%20and%20wages.pdf</a>AEA DISTINGUISHED LECTURE Distorted Innovation: Does the Market Get the Direction of Technology Right? <a href="https://economics.mit.edu/sites/default/files/2023-06/Distorted%20Innovation%20-%20Does%20the%20Market%20Get%20the%20Direction%20of%20Technology%20Right.pdf" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://economics.mit.edu/sites/default/files/2023-06/Distorted%20Innovation%20-%20Does%20the%20Market%20Get%20the%20Direction%20of%20Technology%20Right.pdf</a>Institutions as a Fundamental Cause of Long-Run Growth (2004) Daron Acemoglu, Simon Johnson, James Robinson <a href="https://www.nber.org/system/files/working_papers/w10481/w10481.pdf" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.nber.org/system/files/working_papers/w10481/w10481.pdf</a>more: <a href="https://economics.mit.edu/people/faculty/daron-acemoglu/publications" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://economics.mit.edu/people/faculty/daron-acemoglu/publications</a><a href="https://scholar.google.com/citations?user=l9Or8EMAAAAJ&hl=en" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://scholar.google.com/citations?user=l9Or8EMAAAAJ&hl=en</a><a href="https://mathstodon.xyz/tags/Economics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Economics</a> <a href="https://mathstodon.xyz/tags/Nobel" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Nobel</a> <a href="https://mathstodon.xyz/tags/Acemoglu" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Acemoglu</a> <a href="https://mathstodon.xyz/tags/automation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#automation</a> <a href="https://mathstodon.xyz/tags/inequality" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#inequality</a> <a href="https://mathstodon.xyz/tags/AI" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#AI</a> <a href="https://mathstodon.xyz/tags/tehnology" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#tehnology</a>

Chuck DarwinSilicon Valley is maximizing profit at everyone’s expense. It doesn’t have to be this way A public battle has broken out among the titans of Silicon Valley. 🔸One side, led by <a href="https://c.im/tags/Elon" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Elon</a> <a href="https://c.im/tags/Musk" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Musk</a>, PayPal co-founder <a href="https://c.im/tags/Peter" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Peter</a> <a href="https://c.im/tags/Thiel" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Thiel</a> and venture capitalists <a href="https://c.im/tags/Marc" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Marc</a> <a href="https://c.im/tags/Andreessen" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Andreessen</a> and <a href="https://c.im/tags/Ben" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Ben</a> <a href="https://c.im/tags/Horowitz" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Horowitz</a>, is backing Donald <a href="https://c.im/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Trump</a> for president. 🔸The other, led by LinkedIn co-founder <a href="https://c.im/tags/Reid" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Reid</a> <a href="https://c.im/tags/Hoffman" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Hoffman</a>, is behind Kamala <a href="https://c.im/tags/Harris" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Harris</a>.⚠️We should not make the mistake of thinking this is a battle over ideology or policy. It’s a battle to ♦️maximize Silicon Valley’s profits regardless of the consequences for society.♦️On this objective, both sides agree. Andreessen Horowitz is one of the largest investors in <a href="https://c.im/tags/cryptocurrency" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#cryptocurrency</a> and <a href="https://c.im/tags/artificial" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#artificial</a> <a href="https://c.im/tags/intelligence" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#intelligence</a>, and Trump has signaled that he would keep the government out of its business. Meanwhile, soon after donating $7 million to a Harris super PAC, Hoffman called for her to oust Federal Trade Commission Chairwoman <a href="https://c.im/tags/Lina" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Lina</a> <a href="https://c.im/tags/Khan" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Khan</a>, who has brought antitrust cases against Big Tech and introduced rules to protect workers.Silicon Valley, a longtime engine of human achievement, has become a significant source of human harm. Aware of the gathering backlash, its leaders have dived into the political fray 💥to protect their wealth.💥Two Silicon Valley obsessions threaten the most damage: creating human <a href="https://c.im/tags/addiction" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#addiction</a> to increase profits and <a href="https://c.im/tags/eliminating" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#eliminating</a> <a href="https://c.im/tags/humans" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#humans</a> altogether to decrease costs.Social media platforms, which started out by bringing old friends together and giving voice to the otherwise powerless, have become “social slot machines” compelling excessive use. Gaming companies have a similar objective. Teenagers today spend more than eight hours a day on screens, fueling digital advertising revenues that reached $225 billion last year.Meanwhile, the artificial intelligence revolution promises to cut labor costs. A recent study by MIT economist <a href="https://c.im/tags/Daron" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Daron</a> <a href="https://c.im/tags/Acemoglu" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Acemoglu</a> found that 50% to 70% of the growth in inequality between more and less educated workers can be attributed to automation. Poverty rates in Silicon Valley’s home state are rising even as AI makes Big Tech richer.The broader prospects are equally concerning. AI is enabling killer robots, autonomous weapons and massively destructive misinformation.<a href="https://www.latimes.com/opinion/story/2024-08-30/silicon-valley-big-tech-profit-ai-elon-musk-reid-hoffman-peter-thiel-andreessen-horowitz-kamala-harris-donald-trump-election-2024" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.latimes.com/opinion/story/2024-08-30/silicon-valley-big-tech-profit-ai-elon-musk-reid-hoffman-peter-thiel-andreessen-horowitz-kamala-harris-donald-trump-election-2024</a>

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