I think that in particular, artificial intelligence is slightly different because there is the problem of competition between countries. What if an adversarial country then gets a very powerful AI and can take over? It's a bit more complex in the case of AI, but it applies to a lot of other risks where you don't have competition. So, I'm thinking, for example, about a virus, labs. What if you have 99% chance you discover you make some medical advancement and 1% chance you might cause a deadly pandemic)? And so, we want to think about the long term.
Author and consultant Luca Dellanna talks with EconTalk host Russ Roberts about the importance of avoiding ruin when facing risk. Along the way Dellanna makes understandable the arcane concept of ergodicity and shows the importance of avoiding ruin in every day life.