Replies Question Rapid AI Economic Transformation Claims
Replies note economic frictions and limited share of affected industries in output.
Rohit Krishnan states that frictions block AI from steamrolling the economy and that the absence of a clear answer to why it will not do so represents a widespread fallacy. Timothy B. Lee adds that information-intensive industries form only a small share of GDP. The replies address arguments about fast AI-driven change across sectors. They appear in a public exchange among creators focused on technology and economics. No first-party confirmation of broader outcomes appears in the packet. The statements stand as the authors' positions on limits to rapid disruption.
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A big part of the answer here is that a) there are frictions, and b) there's no good answer to "why won't AI just steamroll the frictions". But (b) being unanswerable does not mean it's wrong. This is an enormous and widespread fallacy.
The (b) is true for many corners of the economy, in many different ways -- not just AI related. Sometimes you can talk to your local business owner and ask him something like "why don't you do things this new different way". And if you're the annoying consultant-minded type,…
A big part of the answer here is that a) there are frictions, and b) there's no good answer to "why won't AI just steamroll the frictions". But (b) being unanswerable does not mean it's wrong. This is an enormous and widespread fallacy.
@krishnanrohit Another factor is that information-intensive industries are a small share of GDP.
The (b) is true for many corners of the economy, in many different ways -- not just AI related. Sometimes you can talk to your local business owner and ask him something like "why don't you do things this new different way". And if you're the annoying consultant-minded type,…
A big part of the answer here is that a) there are frictions, and b) there's no good answer to "why won't AI just steamroll the frictions". But (b) being unanswerable does not mean it's wrong. This is an enormous and widespread fallacy.
