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Tyler Cowen - Hayek, Keynes, & Smith on AI, Animal Spirits, Anarchy, & Growth
Dwarkesh Podcast
Critiques of Democracy, Inequality, and the End of History
A libertarian critique suggests that democracy tends to drift towards socialism, resulting in a government that becomes too large. However, examples like France and Sweden show that large governments do not necessarily lead to autocracy. The egalitarian critique argues against the high income inequality created by the market, pointing out countries like the US and Brazil. The Nietzschean critique of the end of history posits the idea of the 'last man' and concerns about defending civilization. While concerns are acknowledged, the speaker sees today's problems as more manageable than in previous eras, with resources and talent to address them. The speaker questions the relevance of these worries in asset prices, emphasizing the need for concrete predictions and solutions.
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