Win-Win with Liv Boeree #51 - Tyler Cowen - Markets, Institutions and Why AI Hype is (Probably) Overblown
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Jan 12, 2026 
Tyler Cowen, an esteemed economist and professor at George Mason University, dives into the intricate relationship between AI, societal institutions, and economic growth. He challenges the hype surrounding AI, arguing that human adaptability and institutional flexibility are critical. The conversation spans topics like the limits of automation, the potential of Wealth Plus, and the role of markets in managing risk. Tyler also addresses climate policy and the nuances of universal basic income, ultimately highlighting the importance of designing systems that foster resilience and innovation.
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Addictions Follow An Arms Race
- Tyler Cowen argues addictions behave like an arms race: some decline while others worsen.
- Outcomes are often coincidental, so we hope the lasting addictions are the least harmful.
Social Norms Beat Pure Education
- Cowen credits social pressure and policy shifts more than education for smoking declines.
- Changes in norms and business practices created contagion that broke smoking chains.
Wealth Plus Values The Distant Future
- Wealth Plus means maximizing GDP growth while adjusting for values GDP misses.
- Preserve long-lived values by discounting social welfare at a near-zero rate.
