AI, Population Dynamics, and Future Societal Challenges

Tyler Cowen discusses his book on the greatest economists of all time, evaluates the contributions of macroeconomics, and touches on topics such as stagnation, AI, fertility, and the future of academia and societal trends.

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LINKS:

Read Tyler's new book for free: https://econgoat.ai/ 

Tyler's blog: https://marginalrevolution.com 

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X / TWITTER:

@tylercowen

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HIGHLIGHTS FROM THE EPISODE:

• Tyler Cowen wrote his book "Greatest Economist of All Time" during the pandemic when he was confined at home and couldn't access libraries.
• Tyler believes that while macroeconomics isn't predictive, it helps understand variables that affect economic outcomes, like in Argentina's current situation.
• In Tyler’s view, the U.S. economy has become more controlled and statist over recent decades, though personal freedoms have increased in some areas.
• Academic economics has shifted significantly to the left, with about five-sixths of economists with party affiliations being Democrats.
• Population decline as a serious threat that AI might help address but won't fully solve without maintaining human population.
• A large subsidy (around $300,000-400,000 per child) might be needed to effectively address falling birth rates.
• On higher education, he believes Harvard and other elite institutions will shift toward the center but won't fundamentally change their nature.
• Tyler runs Emergent Ventures, which has over 500 winners, focusing on funding talented individuals rather than specific projects or fields.
• He maintains that liberal democracies remain the most successful model, despite criticisms from post-liberal thinkers.
• Regarding his own legacy, Tyler believes his main contribution is demonstrating that a certain kind of intellectual life is possible and can be influential.
• He argues that his strength lies in integrating theoretical thinking with practical projects while maintaining intellectual curiosity.
• Tyler expresses optimism about the University of Austin while acknowledging the challenges of scaling alternative educational institutions.