Tyler Cowan: I think it makes sense to discount future generations because of such so much uncertainty about what things will be like. But then you get into these insane kind of calculations that effective altruism people kind of do of like the risk of AI. So basically when you start discounting for an opportunity to do them, they're insane, but we also have to do them. He says thinking quantitatively about trade-offs 10 generations from now is not super productive.
Nations generally want their economies to be rich, robust, and growing. But it’s also important to person to ensure that wealth doesn’t flow only to a few people, but rather that as many people as possible can enjoy the benefits of a healthy economy. As is well known, the best way to balance these interests is a contentious subject. On one side we might find free-market fundamentalists who want to let supply and demand set prices and keep government interference to a minimum, while on the other we might find enthusiasts for very strong government control over all aspects of the economy. Suresh Naidu is an economist who has delved deeply into how economic performance affects and is affected by other notable social factors, from democracy to revolution to slavery. We talk about these, as well as how concentrations of economic power in just a few hands — monopoly and its cousin, monopsony — can distort the best intentions of the free market.
Support Mindscape on Patreon.
Suresh Naidu received his Ph.D. in economics from the University of California, Berkeley. He is currently professor of economics and international affairs at Columbia University as well as a fellow at Roosevelt Institute, external faculty at the Santa Fe Institute, and a research fellow at National Bureau of Economic Research. His awards include a Sloan Research Fellowship and the “Best Ph.D. Advisor Award” from the Columbia Association of Graduate Economics Students.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.