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#141 – Erik Brynjolfsson: Economics of AI, Social Networks, and Technology
Lex Fridman Podcast
Apply Development vs Basic Research
The US government used to be investing much more in R&D, but we have slashed that part of the government really foolishly. And we're all poorer, significantly poorer as a result. Growth rates are down. We're not having the kind of scientific progress we used to have. It's been sort of a short term eating the seed corn where people grab some money, put it in their pockets today, but five, 10, 20 years later, they're a lot poorer than they otherwise would have been.
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