3min chapter

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Zvi Mowshowitz on AI and the Dial of Progress

EconTalk

CHAPTER

The Limits of the Man of Systems

As an economist in the spirit of FA Hayek, I believe there were a lot of problems in the world where it's the problem is that we don't have enough data. The problem is we don't fully understand the complexity of the interactions and the relationships that human beings have. Adam Smith so called Man of System and the Theory of Moral Sentiments person who thinks that he can move the pieces of society around like pieces on a chessboard because he thinks they understand their motion but in fact they have a motion on their own. And most of the interesting problems are as I quote Thomas all the time: No solutions only trade offs. Chet some AI of the future will not solve

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