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15min chapter
Tyler Cowen - Hayek, Keynes, & Smith on AI, Animal Spirits, Anarchy, & Growth
Dwarkesh Podcast
The Challenge of Condensed Information
In this chapter, they discuss the challenge firms face in making decisions based on condensed information, such as profit and loss. They also explore the impact of selection and human ingenuity on productivity gains in international trade. The conversation then shifts to John Stuart Mill's argument about the treatment of women and how it can be applied to the treatment of children in society today.
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