The Future- Econ in Real Life
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- Опубліковано 4 бер 2017
- In this video I talk about the different eras of human technological progress and the possibility of technological singularity. Even though it seems like science fiction, it's likely that we will develop machines and computers that will, some day, replace all human labor. What kind of economy are we going to have if that happens?
Please let me know what you think in the comments below. Do you think technological singularity is even possible? What will happen in the future? Do you think we will end up with communism? Please like and subscribe. Thanks for watching.
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4:05 I see what you did there.😂
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I love your new swagga theme song at the beginning :D
You seriously deserve a million subs! Keep it up! 🤗
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I really like your videos. They have helped me pass my Economics exam last year (which I failed the previous year - the exam has a 40% failure rate). Watching your videos really helped me to understand and remember the concepts well! As a thank you, I have donated to you in support of your cause. Thank you. ☺️
Awesome vid!
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"Ja, this is good, I love it!" XD I'm literally under the table
really interesting take. thanks
Man !!! you are amazing......... ..:)
Great video !!
Can you do a video on heckscher ohlin theory
thanks Jacob. any chance you could bring back the dubstep intro song though?
Great video, though as others have pointed out, there are plenty of pessimistic views about what automation and super intelligence will bring. Based on this video, I think you've maybe already seen/read these, but in case you haven't I'd recommend watching CGPGrey's Humans Need Not Apply video. He also discusses the topic of super intelligence in his podcast in reference to the book of the same name.
Quick Question - I ordered the Ultimate Review packet last year and I was wondering if you had made changes or updates since last year. If so would you recommend ordering another packet?
Thanks. Great Videos!
Completely random but could you make videos on econometrics?
Knowledge is power!
I wonder how the stock market would adapt to new technology. If we had computers that could predict the future highs and lows of the market, would there still be an incentive to invest?
Automation don't make scarcity disappear nor it does solve the problem of distribution of raw material (which can be reduced to territory, either as "deposit" or "suitable place") and energy necessary for transformation! Short of manipulating matter itself at its most basic level (which mean channeling huge amount of energy) that won't happen this way. But who know? Also actual expert have pessimist prediction in the range of 50 years, and some advances have beaten optimistic prediction, look at deep learning.
The problem remain of distribution of power ultimately, even the absolute automaton capable of creating stuff out of fine air will be subject to power confiscation, information is "free" and "infinite" yet it's still bounded to law like copyright and patent, which lead to "distribution war" like "Promethean piracy". We should not underestimate the scale of human inertia to have thing work like they have always been, and the value of work at an ontological level of its identity, automation communism will send shockwave in society where people's worth has been defined by their labor value ...
Anyway the problem with AI will be what it will be designed for, if a self improving AI is designed to make toothpick, it might have to kill us to continue making toothpick more efficiently, because that would be his priority ... So it would remove "logically" all obstacle, ie us, because we could potentially shut it down or change his priority, which is an effective hindrance to its stated goal. Maybe we will see AI arm race between Ai design to make things us efficiently and AI designed to deal with such AI like antibody ... Fun stuff in perspective :/
hello
I have a question, if I want to specialize in economics do I need to be really good at math?
P.s your videos are AWESOME
OMFG!!! YES!!!!
Nice ! It's true, I am a student aspiring to be a economist so how is this going to effect me is the Q.
Money is just a store of value for someone's production. I think if we create a world where raw materials, goods, and services are no longer scarce, humans would value other things that we are able to produce. Economics would stop being about material stuff. People would still want to be productive and they would value stuff they themselves can't produce. Trade will still happen and money would still exists. Material stuff would just account for a small amount of a person's income.
The question is will human ego let this to happen? There are always those who like to control and to be on top of the pyramid of power
Imagine, communism without corruption. and without scarcity....I'm an economist so I see how capitalism is the way toward advancement, but i see a really good point here in that maybe one day we will no longer need to do this. Although then what happens with star wars!!! We need to reach that type of civilization. Maybe outlaw AI that rule everything?
+Driven_Mx5 Are You really an Economist? If yes then tell me would a Social Democracy work here in the U.S like it does in Germany and the Nordic nations because they say it could work if we got money out of politics ( lobbying ) I'm a progressive and we are fighting for such change.
Hi Harry, I'm not the one you are asking this question to, but I believe that is true. I am also a democrat (in US terms) and I agree that lobbying causes MANY problems. I don't know whether you could convince the rest of the population of, say, universal healthcare is better (and cheaper), but eliminating private donations (cough bribes cough) to political parties would definitely avoid conflict of interest and a be a step forward.
You said computers aren't hampered by our limitations. Yea. But they still have to obey the laws of physics.. right?
Money is just an abstraction that allows for easier trade. Do away with the abstraction, and there is still trade (people performing works for recognition, solidarity, etc.).
I've found the aspects of economics that are primarily concerned with scarcity and resource allocation to be mostly dull (certainly not my main interest). Like Smith in The Theory of Moral Sentiments, economics can also be viewed as a type of moral reasoning, helping to elucidate several competing claims and ideas. No one would subscribe to any school of economics if it didn't also appeal to their sense of fairness, utility, etc.
In those terms, markets are a huge technological advancement not to be done away with lightly even in the face of technological singularity. Communism only really speaks to material goods, where the future of economics will be focused on something else entirely (ever notice how much recent economic thought resembles sociology).
The Future is now thanks to science but I don't want to live in a world of robots it scares me 😨
For me the world changed from the 1990s
notification squad
interesting you picked money and not the agricultural revolution...
Hello
I am back.
But humans want more than food and consumer goods. Those are far down on Maslow's hierarchy of needs, for example. I think the existential and psychological consequences will be very challenging if humans don't need to contribute to their own existence - computers aren't even close to being able to deal with issues like that yet - and it's far from certain that they ever will be.
AI singularity equals human extinction
*& Full automation...
Hello